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Ripple Acquires Crypto Financial Services Company Fortress Trust 

[Sep 8, 2023 11:30 AM] Ripple, a leading blockchain and cryptocurrency company, has acquired Fortress Trust, a Nevada-licensed financial services provider for the crypto industry. The purchase expands Ripple’s regulatory licenses and infrastructure to bolster its…

FTX Seeks to Claw Back $700M in Lawsuit Over Alleged Funds Misappropriation and Influence-Building Scheme

[Jun 24, 2023 4:30 AM] According to a lawsuit filed this week with the U.S. Bankruptcy Court for the District of Delaware, FTX lawyers are seeking to claw back $700 million from K5 Global Technology, its subsidiaries, and the firm’s founders. The attorneys allege…

FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy

[May 18, 2023 1:57 AM] When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value.

UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

[Mar 18, 2023 2:30 PM] After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to…

US Accounting Watchdog Issues Warning on Crypto Proof-of-Reserve Audits: Investors Urged to Exercise Caution

[Mar 9, 2023 3:30 PM] According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR…

Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

[Mar 9, 2023 11:30 AM] After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate…

Silvergate CEO calls out 'short sellers' spreading misinformation

[Dec 6, 2022 1:00 AM] In the statement, Lane also took the opportunity to "set the record straight” about its investment relationship with FTX and the firm's “robust risk management approach.”

No red flags at FTX despite 8 months of 'extensive due diligence' — Temasek

[Nov 16, 2022 11:59 PM] Despite eight months of due diligence, investment firm Temasek found no major concerns with FTX’s financials and no sign that the crypto exchange would eventually collapse.