By Aaron Nicodemus2022-11-15T21:02:00
The collapse and bankruptcy of digital asset exchange FTX offers stark lessons into why rules that apply to traditional investments—overseen by government regulation—ought to apply to digital investments as well.
As recently as Nov. 6, FTX, founded in 2019 by Sam Bankman-Fried, was one of the world’s largest digital asset exchanges, with $16 billion in assets under its control. By Nov. 11, the company filed for bankruptcy following a week in which investors and customers demanded to cash out their investments and sell their FTX tokens (FTT), all at once.
Even for the cryptocurrency industry, which has become accustomed to wild swings in value, the speed of FTX’s fall was stunning. What happened?
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
2023-01-20T20:39:00Z By Aaron Nicodemus
Christy Goldsmith Romero of the Commodity Futures Trading Commission called out gatekeepers—lawyers, accountants, auditors, compliance professionals, and others—for failing customers in the unregulated cryptocurrency market.
2023-01-13T17:21:00Z By Aaron Nicodemus
The Securities and Exchange Commission accused two cryptocurrency firms, Genesis Global Capital and Gemini Trust Company, with selling a crypto lending product to investors as an unregistered security.
2025-09-16T18:39:00Z By Tom Fox
Employees are adopting AI faster than companies can build policies, governance, and training. That gap creates compliance exposure in areas from data privacy to shadow IT to workplace equity.
2025-09-09T16:37:00Z By Aly McDevitt
The Epstein case remains a defining moment for financial institutions. As new investigations bring renewed attention to his enablers, Compliance Week’s 2024 case study offers not only a timeline of failures but a path forward. Here’s what banks, regulators, and compliance teams must learn from it.
2025-09-03T11:37:00Z By Tom Fox
At their core, compliance officers are problem-solvers. They wrestle with thorny questions every day: How do we implement a global gifts-and-entertainment policy across jurisdictions with vastly different cultural norms? How do we balance business pressures with anti-corruption obligations? How do we address new risks like AI itself?
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