FTX bankruptcy bagholders, including Coinbase

[Graybeard]

New filings in the FTX bankruptcy case have revealed the full list of FTX shareholders and investors, all of whom will inevitably be writing off the entirety of their investments.

Notably, among the Tom Brady and Gisele Bundchen sits Coinbase (NASDAQ: COIN), which is recorded as holding the bag on millions of FTX shares—putting statements made by Coinbase and its CEO Brian Armstrong in the wake of the collapse in a somewhat different and unflattering light.

FTX bankruptcy filings reveal list of bagholders, including Coinbase

New filings in the FTX bankruptcy case have revealed the full list of investors, and among Tom Brady and Gisele Bundchen sits Coinbase, which holds the bag on millions of FTX shares.

coingeek.com

The FTX Scam and Fraud may only be the tip of the iceberg. Some big Wall Street names got sucked in by their own greed.

 

[T J Tutor]

The FTX Scam and Fraud may only be the tip of the iceberg. Some big Wall Street names got sucked in by their own greed.

We rarely see more than the tip when it comes to market players and manipulators.

 

[Graybeard]

Yep, still accelerating ...

Exclusive: Crypto giant Binance controlled ‘independent’ U.S. affiliate’s bank accounts

A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show.

www.reuters.com

>>>" ...U.S. lender Silvergate Bank authorized the executive, Guangying Chen, a close associate of Binance CEO Changpeng Zhao, to operate the accounts in 2019 and 2020, according to records from those years. This allowed Chen and her deputies to move funds held in the bank accounts. Employees at the affiliate, Binance.US, had to ask Chen’s team to process payments, even to cover the firm’s payroll, company messages show. ...

...Reuters has previously reported that a deputy of Chen’s had access to one Binance.US Silvergate account and that the account transferred more than $400 million in 2021 to a trading firm controlled by Zhao. Binance.US has said the trading firm, Merit Peak, was withdrawing its own funds, money that derived from its trading activity on the exchange. Juvvadi said an investigation Binance.US conducted into Reuters’ previous findings found they were “simply not true.”"<<<