Crypto exchange OKX opens its balance sheet as sector scrambles to restore trust November 23, 2022 Crypto exchange OKX has revealed the state of its balance sheet today to prove to customers it has not been gambling with their cash, as the industry scrambles to restore confidence in the wake of FTX’s collapse.
Exclusive: Government oblivious to scale of crypto tax-dodging despite ‘global hub’ plans November 23, 2022 The government has made no calculations on the amount of dodged tax takings on cryptoassets despite the Treasury’s plans to turn the UK into a hub for crypto, City A.M. has learned.
FTX run as ‘personal fiefdom’ for Bankman-Fried, say lawyers November 22, 2022 Lawyers representing collapsed crypto exchange FTX said the firm was “effectively run as a personal fiefdom” for founder Sam Bankman-Fried today, as court documents showed the firm had splurged nearly $121m in property in the past two years.
L&G chiefs lay blame for LDI pension crisis at Truss’s door November 22, 2022 Legal & General chiefs said no one could have predicted the “extraordinary instability” that rocked pension funds in the wake of Liz Truss’s ’mini-budget’ today, as they pointed the finger squarely at the government for the scale of the crisis.
UK fintech ‘can’t assume talent will continue to flow from abroad’, warns sector chief November 22, 2022 The UK’s fintech industry cannot “rest on its laurels” and presume that a stream of talent will continue to flow in from overseas, the incoming chief of a government-backed fintech body has warned.
FTX bankruptcy team finds more than £1bn across Bankman-Fried’s crypto empire November 22, 2022 The team overseeing the bankruptcy of collapsed crypto exchange FTX has managed to located more cash held by Sam Bankman-Fried’s sprawling crypto empire, bringing the total to $1.24bn (£1.04bn).
FCA calls on credit raters to boost checks amid unaffordable loan fears November 22, 2022 The UK’s financial watchdog has called on credit rating firms to boost their credit checks on customers today amid fears that lenders are dishing out loans to borrowers based on patchy information.
Bitcoin tumbles below £13,500 as FTX turmoil continues November 21, 2022 Bitcoin has plunged below $16,000 (£13, 566) dollars today as investors flee to steadier ground amid turmoil sparked by the collapse of crypto exchange FTX.
Molten Ventures slumps to first half loss as tech downturn hits November 21, 2022 Listed venture capital investor Molten Ventures has slumped to a loss in the first half of its financial year after its tech investments were battered by a downturn on the markets.
FCA warns trading firms over dangerous ‘gamification’ November 21, 2022 The UK’s financial watchdog has fired a warning shot at trading apps today over the so-called gamification of betting on the financial markets, amid fears unsophisticated investors are being lured in to bets against their own interest.
