Australian regulators investigated FTX before collapse
Australian regulators were investigating FTX for inappropriate conduct before the collapse of the exchange last year.
Cryptocurrency news by Protos · Protos
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Australian securities regulators were investigating FTX as early as March 2022, according to emails obtained by The Guardian.
The investigation looks to have begun after it became clear that FTX was offering 20 times leverage on its investments. When regulators began to investigate, they discovered that FTX had acquired its license from a takeover of IFS Markets, which had itself acquired it by taking over Forex Financial Services.
In order to understand whether or not FTX was maintaining the standards required by the license, regulators issued an S912C notice to gather information to assess its compliance.
Hosted on Acast. See acast.com/privacy for more information.