tl;dr
Former FTX executive Ryan Salame accuses Silvergate Bank of being aware of suspicious transactions tied to FTX and Alameda Research. Salame's claims shed new light on potential oversight failures in the FTX scandal and raise questions about banking involvement. Silvergate Bank, previously under regu...
html
Former FTX executive Ryan Salame accuses Silvergate Bank of being aware of suspicious transactions tied to FTX and Alameda Research. Salame's claims shed new light on potential oversight failures in the FTX scandal and raise questions about banking involvement. Silvergate Bank, previously under regulatory scrutiny, closed in 2023 following the FTX collapse. The FTX restructuring plan faces challenges, impacting FTT token holders, but a settlement with the CFTC offers potential compensation to affected cryptocurrency holders.
The cryptocurrency industry continues to grapple with the fallout from the FTX collapse, as new allegations surface regarding the role of traditional financial institutions in the scandal. In a startling development, Ryan Salame, a former executive at the defunct cryptocurrency exchange FTX, has come forward with explosive claims against Silvergate Capital, once a leading crypto-friendly bank. Salame’s assertions, shared on social media, suggest that Silvergate may have been more deeply involved in FTX’s questionable transactions than previously thought, potentially reshaping our understanding of the intricate relationships between crypto firms and their banking partners.
Ryan Salame, a former executive at the now-defunct cryptocurrency exchange FTX, has leveled serious accusations against Silvergate Capital, a once-prominent crypto-friendly bank. Salame claims that Silvergate was fully aware of suspicious transactions related to FTX and its sister company, Alameda Research. In a series of posts on social media platform X, Salame questioned the plausibility of Silvergate being unaware of the nature of transactions flowing through FTX and Alameda accounts. He pointed out the high volume of daily wire transfers between the entities and the public display of wire instructions on the FTX exchange. This controversy follows Silvergate’s closure in 2023, which was largely attributed to the collapse of FTX. The bank faced regulatory scrutiny for allegedly failing to monitor over $1 trillion in crypto transactions, as per a complaint filed by the SEC. Silvergate had previously agreed to a $63 million settlement with U.S. and California regulators over accusations of internal management failings and misleading investors. Salame’s allegations add a new dimension to the ongoing investigations into the FTX collapse, suggesting a deeper involvement of banking institutions in the crypto industry’s operations and potential oversight failures.
The FTX restructuring plan has hit a significant snag, particularly affecting holders of the exchange’s native FTT token. The official committee of FTX unsecured creditors has made an announcement that has caused concern within the crypto community, focusing on a crucial aspect of the voting process for the exchange’s restructuring plan. In a separate development, FTX has reached a settlement with the Commodity Futures Trading Commission (CFTC), pending court approval. This agreement marks a significant moment in the ongoing FTX bankruptcy proceedings that have dominated crypto industry news since late 2022. The settlement involves a complex arrangement concerning a $4 billion CFTC claim and introduces a new mechanism for potential additional compensation to affected cryptocurrency holders.
More about Grupo Aeroportuario del Pacifico SAB De CV ADR
Grupo Aeroportuario del Pacifico SAB De CV ADR,Grupo Aeroportuario del Pacfico, SAB de CV, develops, manages and operates airports mainly in the Pacific region of Mexico. The company is headquartered in Guadalajara, Mexico.
Industry: ENERGY & TRANSPORTATION
Sector: AIRPORTS, FLYING FIELDS & AIRPORT TERMINAL SERVICES
NAICS code: 8427010000
Current stock price: $15.72
Price change: $0.00
Percentage change: 10.61%
Market cap: $4.558 billion
EPS: $0.288
Revenue: $33.379 billion
P/E ratio: 185.31
Dividend yield: -0.036
Beta: 0.019
More about Interlink Electronics Inc
Interlink Electronics Inc Summary
Interlink Electronics, Inc. designs, develops, manufactures, and sells force sensing technologies that incorporate proprietary material technology, firmware, and software into standard sensor-based products and custom sensor system solutions. The company is headquartered in Irvine, California.
Industry: TECHNOLOGY
Sector: COMPUTER PERIPHERAL EQUIPMENT
Symbol: NEC
CIK: 38751300
EPS: -0.14
P/E Ratio: 1.396
Profit Margin: -0.0677
Market Cap: 13786000
Volume: 7
Current Price: 21.01
Price Change (%): -0.047
More about Luna Innovations Incorporated
```html
Luna Innovations Incorporated develops, manufactures and markets fiber optic test, measurement and control products globally. The company is headquartered in Roanoke, Virginia.
TRADE & SERVICES
SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH
Market Cap: 102.703B
Dividend Yield: None
EPS: -0.03
Shares Outstanding: 3.487M
Beta: -0.0182
Volume: 116.614M
P/E Ratio: 9.13
Forward P/E (1y): -0.676
Price/Sales: 0.053
```
More about Sandstorm Gold Ltd N
Company: Sandstorm Gold Ltd
Description: Sandstorm Gold Ltd. is a gold royalty company. The company is headquartered in Vancouver, Canada.
Industry: ENERGY & TRANSPORTATION
Sector: GOLD AND SILVER ORES
Market Cap: 1713649000
PE Ratio: 71.88
EPS: 0.061
EBITDA: 0.08
Profit Margin: 0.601
ROE: 0.122
Revenue: 178468000
Debt to Equity: 7.92
Quick Ratio: -0.966
Current Ratio: -0.027