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Behind FTX's Downfall: The Role of Sam Bankman-Fried's Parents
Sam Bankman-Fried's parents did more than shape his personality; they played a significant role in FTX's journey, reportedly earning millions from the exchange. It seems FTX was more than just a business venture; it was a family enterprise. But who exactly were these family members? 
John Reed Stark, a lawyer and former SEC enforcement chief, has labeled the effort by the leadership of the now-bankrupt crypto exchange FTX and its associated legal firms to relaunch the platform as blatant fraud. He predicts that by the end of 2024, each attorney involved in this case will afford to buy a luxury beach house, effectively financed by the funds of FTX users. 
The expanded investigation into the FTX bankruptcy, as directed by an appellate court, has been ordered to adhere to specified budgetary and temporal constraints. This ruling was issued by U.S. Federal Judge John Dorsey, aligning with the stance of the exchange's attorneys and creditors. 
The bankrupt cryptocurrency exchange FTX is set to sell Digital Custody Inc. (DCI), a subsidiary it acquired for $10 million, to CoinList for merely $500,000. The leadership deems this transaction favorable, given that DCI, a provider of custodial services, has lost its utility following the abandonment of plans to reboot the platform. 
The South Korean regulator might launch an investigation into the cryptocurrency exchange OKX for unauthorized advertising of one of its programs. Local laws mandate that every crypto company must undergo registration to smoothly engage with South Korean clients. 
The Financial Supervisory Service of South Korea (FSS) intends to meet with business representatives and the US Securities and Exchange Commission (SEC) to gather detailed information about Bitcoin ETFs. These plans were announced by the FSS Governor, Lee Bok-hyun, during a presentation in Seoul outlining his action plan for the near future. 
The Securities and Exchange Commission (SEC) has issued a press release targeting Brian Sewell, founder of Rockwell Capital Management. Sewell reportedly encouraged hundreds of online students to invest in his fund, claiming it employed cutting-edge AI-based crypto trading strategies. 
The U.S. Department of Justice has leveled charges against three American individuals for committing fraud through SIM card swaps. Bloomberg reports that among the companies affected was the cryptocurrency exchange FTX, which suffered a loss of over $400 million in client assets in the aftermath of its bankruptcy announcement. Andy Bromberg: Bitcoin ETFs Contradict the Nature of Crypto
The U.S.'s recent nod to spot Bitcoin ETFs has been heralded as Wall Street's triumph. These new exchange-traded funds grant both institutional investors and laypersons easier crypto market access. Yet, Andy Bromberg, CEO of the crypto wallet Beam, signals a caveat: these ETFs deviate from the founding principles of Bitcoin and cryptocurrencies at large. 
Thailand's Securities and Exchange Commission (SEC) has revised its crypto industry regulations, creating a more business-friendly and user-oriented environment. One significant adjustment is the removal of the previous limit on investment volumes in tokens backed by tangible assets. 
Taiwan's law enforcement agencies have requested the court to authorize the arrest of ACE Exchange's president Chenhuan Wang and four others on accusations of money laundering and fraud. They're also seeking to limit their interaction with others while under detention. 
The U.S. Commodity Futures Trading Commission (CFTC) has brought to light a scheme by Debiex's staff, who allegedly developed personal and even romantic relationships with potential customers to draw them into their trading platform. The CFTC has now sued Debiex, charging them with fraudulent activities.