The world’s largest financial derivatives exchange, the CME Group CEO, Terry Duffy appeared on Fox News on Wednesday to address the collapse of FTX and seemed to admit that he either bribes or has bribed a CTFC officer. While FTX was mismanaging clients’ money, Tucker Carlson questioned Duffy about the whereabouts of SEC chairman Gary Gensler. “I don’t know where Gary Gensler was,” Duffy replied. “But my regulator at the CTFC I bribe, I asked them why in the world are you invoking the Commodity Exchange Act?” The FTX collapsed earlier this month after reportedly using clients’ money to make risky investments through Alameda Research firm. The CME Group provides Bitcoin and Ethereum futures, which are options contracts that give investors a chance to bet on the asset’s future price with the option to pay out at any point before the contract expires.
One of the largest cryptocurrency exchanges in Canada, Coinsquare may have been breached. The firm claims that clients’ assets are “safe in cold storage and are not at risk.” Customers were notified via email to report a “data incident” as an unauthorized third party gained access to a customer database containing personal information. The company advertises itself as Canada’s trusted platform to securely buy, sell, and trade cryptocurrencies like Bitcoin, Ethereum, and more. According to the email, the breach exposed “customer names, email addresses, residential addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history, and account balances.” The firm identified the breach last week and notified its customers via Twitter. Activities on Coinsquare were suspended after identifying the breach last week. Full service was restored on Friday according to a tweet.
Ryan Pinder Claims FTX's New CEO "Misrepresented” The Prompt Action Taken By The Securities Commission
Bahamas Attorney General and Minister of Legal Affairs, Ryan Pinder said that FTX’s new CEO “misrepresented the prompt action taken by the Securities Commission and utilized incorrect allegations.” The FTX Trading subsidiary situated in the Bahamas is called FTX Digital Markets. In his speech, delivered through Facebook Live on Sunday night, Pinder encouraged all foreign organizations to “exercise at least the same amount of caution and moderation in their public opinion as we do so as not to prejudice any of the proceedings that are ongoing.” The assets of FTX Digital Markets were frozen by the Bahamas Securities Commission. According to FTX’s “credible evidence”, the Bahamian government entered the company’s computer systems. The government’s inquiry into FTX is still in its early stages and needs to be more helpful.