EREP

EXCLUSIVE Bankman-Fried’s FTX, parents bought Bahamas property worth $121 mln

FTX unit purchased 7 condos in upscale resort for “key personnel” Bankman-Fried’s parents named owners of $16.4 million vacation home Bankman and Fried tell Reuters: Seeking to return the deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Fried’s FTX, his parents and top executives of the failed cryptocurrency exchange have purchased at …

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Special Report: FTX’s Bankman-Fried begged for a rescue even as he revealed huge holes in firm’s books

FTX founder sought to raise $7 billion from investors including Sequoia, Apollo, TPG, three sources say FTX also turned to Nomura and Saudi wealth fund – sources FTX and trading affiliate Alameda, nominally independent, both listed same assets on their books – investor presentations Records seen by Reuters show FTX diverted large share of fee …

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EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

FTX founder Bankman-Fried secretly transferred $10 billion in funds to trading company Alameda – sources Bankman-Fried showed colleagues spreadsheets revealing transfer of funds to Alameda – sources Spreadsheets say between $1 billion and $2 billion of customer money goes unaccounted for – sources Executives set up accounting ‘backdoor’ that thwarted red flags – sources The …

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Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

November 10 (Reuters) – (This story contains language that some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off guard with a grim message. “I’m sorry,” he told them. “I screwed up.” The reason for the mea culpa: its announcement half an hour …

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Exclusive: Nvidia offers new advanced chip for China that meets U.S. export controls

OAKLAND, Calif., November 7 (Reuters) – U.S. chipmaker Nvidia Corp (NVDA.O) offers a new advanced chip in China that adheres to recent export control rules aimed at keeping advanced technologies out of China’s reach, the company confirmed on Monday. Nvidia responded to reports from Reuters that Chinese computer vendors are advertising products with the new …

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Exclusive: Tesla plans mass production start for Cybertruck at end of 2023

November 1 (Reuters) – Tesla (TSLA.O) aims to start mass production of its Cybertruck in late 2023, two years after long-awaited pickup truck CEO Elon Musk’s original target unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month it was working on preparing its Austin, Texas factory to build …

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Exclusive: Tesla faces U.S. criminal probe over self-driving claims

October 25 – Tesla Inc. (TSLA.O) is under criminal investigation in the United States for allegations that the company’s electric vehicles can drive themselves, three people familiar with the matter said. The US Department of Justice last year launched an undisclosed investigation into more than a dozen crashes, some of them fatal, involving Tesla’s Autopilot …

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Nasdaq halts IPOs of small Chinese companies as it probes stock rallies

NEW YORK, October 22 (Reuters) – Nasdaq Inc. (NDAQ.O) has stalled preparations for the initial public offering (IPO) of at least four small Chinese companies as it investigates the short-lived stock market rallies of these companies after their debut, according to lawyers and bankers who work on these stock launches. The stock trader’s actions come …

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U.S. Treasury asks major banks if it should buy back bonds

Oct 14 (Reuters) – The U.S. Treasury Department is asking primary traders of U.S. Treasuries whether the government should buy back some of its bonds to improve liquidity in the $24 trillion market. Liquidity in the world’s largest bond market has deteriorated this year in part due to rising volatility as the Federal Reserve rapidly …

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