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Fed’s Barr: Concerned about blowback to financial system from crypto

Nov 15 (Reuters) – Michael Barr, the Federal Reserve’s top financial regulator, said on Tuesday he was concerned about risks to the non-banking sector, including cryptocurrencies, for which the U.S. central bank and other regulators have low visibility. “We are concerned about risks that we ignore in the non-banking sector,” Barr said in response to …

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Regulators circle FTX as rival exchanges try to calm investors

US Department of Justice, SEC and CFTC investigating FTX, sources say Fed’s Brainard: Crypto Should Be Subject to Traditional Financial Rules Crypto.com CEO Says He Will Release Proof of Reserves Bitcoin stabilizes around $16,590 NEW YORK, Nov 14 (Reuters) – Bitcoin and other cryptocurrencies were under pressure on Monday after crypto exchange FTX’s dramatic collapse …

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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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Musk warns of Twitter bankruptcy as more senior executives quit

November 10 (Reuters) – New owner of Twitter Inc, Elon Musk, on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit from the leader in enterprise trust and security. The billionaire in his first mass call with …

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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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Canada orders three Chinese firms to exit lithium mining

China says Canada is breaking trade and market rules Chinese company stocks fall Companies say they don’t expect a major performance hit OTTAWA/BEIJING, Nov 2 (Reuters) – Canada on Wednesday ordered three Chinese companies to divest their investments in critical Canadian minerals, citing national security. In response, China accused Ottawa of using national security as …

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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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Credit Suisse pays $495 mln to settle legacy U.S. case

Settlement ends bank’s largest ongoing RMBS deal Credit Suisse says settlement is fully covered by provisions The bank still has five cases to solve Expects to resolve outstanding cases within the next six months ZURICH, October 17 (Reuters) – Credit Suisse (CSGN.S) agreed to pay $495 million to settle a case related to mortgage-related investments …

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U.S. grocer Kroger carts away Albertsons for $25 bln but faces antitrust test

Oct 14 (Reuters) – Kroger Co (KR.N) acquired Albertsons Cos Inc. (ACI.N) in a $25 billion deal on Friday, creating an American grocery giant to better compete with leader Walmart Inc (WMT.N) on pricing while bracing for antitrust scrutiny. The mega merger between the No. 1 and No. 2 autonomous grocers in the United States …

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