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The people of Lebanon are staging sit-ins in order to access their own savings.
The World Bank in its report on Lebanon’s bank robbery said that the country’s leaders spent decades running its economy like a Ponzi scheme. The bank added that the country’s bank owners should have taken losses when the economy collapsed. It further stated that the Lebanese leaders should have taken their losses when the economy…
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Sam Bankman-Fried is the founder of FTX.
Sam Bankman-Fried, who backed FTX and Binance, has been arrested by the US Securities and Exchange Commission (SEC) for allegedly running a Ponzi scheme. According to the SEC, Bankman-Fried duped investors who backed FTX by promoting it as a “safe, responsible” crypto trading firm. He allegedly used his FTX exchange and his sister hedge fund…
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There are eerie similarities between the FTX crash and the Madoff Ponzi scheme, says ex-regulator Bair.
US prosecutors have filed criminal charges against Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, after he was arrested in the Bahamas on Monday. The SEC said it has authorised separate charges relating to Bankman-Fried’s “violations of securities laws”, which will be filed publically on Tuesday. Bankman-Fried allegedly ran a Ponzi scheme worth over…