'It's time for stronger rules and stronger enforcement to protect ordinary people,' said SenWarren.
the newspaper, which in another article cited unnamed sources familiar with the matter:"FTX extended loans to Alameda using money that customers had deposited on the exchange for trading purposes, a decision that Mr. Bankman-Fried described as a poor judgment call... All in all, FTX
in customer assets, the people said, so FTX lent more than half of its customer funds to its sister company Alameda." "FTX, Alameda, and other affiliates estimated in their bankruptcy filings that they have more than 100,000 creditors,"."FTX and its affiliates, including Alameda, estimated their assets are between $10 billion and $50 billion and reported the same range for its liabilities, which would make it the largest crypto-related bankruptcy ever filed."
The U.S. Department of Justice and the Securities and Exchange Commission are reportedly investigating FTX in the wake of its sudden collapse this week.
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