Paradigm, BlockFi, Genesis and other companies did not have access to audited financial statements prior to investing or loaning billions to FTX, FTX.US. and Alameda Research, according to testimonies given in the trial of Sam Bankman-Fried. Rather, these investors and lenders looked at unaudited financial statements and spoke with the executives at these companies to determine critical pieces of information like FTX’s cash flow, its liabilities, its current assets and net asset value.
Read More from Nikhilesh De on www.coindesk.comRelated Posts
Bitcoin Breaks $65K With $365 Million In Spot ETF Inflows Fueling The Rally
Bitcoin has been the subject of recent media attention, not only due to its price increase above $65,000 […]
Comments are closed
Crypto Platform CEO Arrested for Allegedly Paying Deputies in Extortion Scheme
Crypto platform Zort’s CEO has been arrested on multiple charges. Allegations against Iza include paying large sums to […]
Comments are closed