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Showing posts with the label U.S.CommodityFuturesTradingCommission

7 Best Christmas Tree Stands in 2022

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Believe it or not, a Christmas tree won't stay upright on its own. Instead, you need a stable Christmas tree stand that can accommodate the type and size of tree you have. We researched dozens of the best Christmas tree stands to help you find the right one for your needs, whether you have a real tree, an artificial tree, a small tree, or a behemoth. The stands in our guide have a track record of durability, performance, and easy setup. We also outline the size and type of tree each stand is meant for. Check out our guide to the best Christmas tree skirts once you've chosen the right stand for your tree. The best Christmas tree stands in 2022 Best Christmas tree stand overall: Krinner Tree Genie Christmas Tree Stand, available at Amazon, $82.79 The German-engineered Krinner Tree Genie Christmas Tree Stand is easy to set up in a couple of minutes and keeps trees up to 12 f...

Regulators circle FTX as rival exchanges try to calm investors

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Bitcoin and other cryptocurrencies were under pressure on Monday following last week’s spectacular collapse of crypto exchange FTX, while regulators opened probes and rival exchanges sought to reassure jittery investors of their own stability. The implosion of FTX, once a darling of the crypto industry with a US$32-billion valuation as of January, has spurred investigations by the U.S. Justice Department, the Securities and Exchange Commission and Commodity Futures Trading Commission, a source with knowledge of the investigations said. The SEC’s probe is also targeting FTX executives, their knowledge of the handling of customer funds and any potential breaking of securities laws, a second source with knowledge of the investigation said. While the crypto industry has touted digital assets as fundamentally different from traditional finance, the sector has proven to be susceptible to the same risks and should be subject to the same rules, Federal Reserve vice-chair Lael Brainard said o...

Poor management, inexperienced leadership led to FTX’s collapse, new CEO tells U.S. lawmakers

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FTX CEO John Ray speaks during a U.S. Hose committee hearing in Washington, on Dec. 13. ELIZABETH FRANTZ/Reuters Poor management practices and inexperienced leaders led to FTX’s implosion, the crypto exchange’s new chief executive told lawmakers on Tuesday, shortly after U.S. regulators charged founder Sam Bankman-Fried with defrauding investors. “The FTX group’s collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced, non-sophisticated individuals,” said John Ray, who was named CEO of FTX after Bankman-Fried stepped down and the company filed for bankruptcy on Nov. 11. Ray also said there was virtually no distinction between the operations of FTX and Alameda Research, Bankman-Fried’s crypto trading firm, which maintained close ties with his exchange. “I’ve just never seen an utter lack of record keeping – absolutely no internal controls whatsoever,” Ray told the U.S. House of Representatives Financial Services Committee....

Poor management, inexperienced leadership led to FTX’s collapse, new CEO tells U.S. lawmakers

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FTX CEO John Ray speaks during a U.S. Hose committee hearing in Washington, on Dec. 13. ELIZABETH FRANTZ/Reuters Poor management practices and inexperienced leaders led to FTX’s implosion, the crypto exchange’s new chief executive told lawmakers on Tuesday, shortly after U.S. regulators charged founder Sam Bankman-Fried with defrauding investors. “The FTX group’s collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced, non-sophisticated individuals,” said John Ray, who was named CEO of FTX after Bankman-Fried stepped down and the company filed for bankruptcy on Nov. 11. Ray also said there was virtually no distinction between the operations of FTX and Alameda Research, Bankman-Fried’s crypto trading firm, which maintained close ties with his exchange. “I’ve just never seen an utter lack of record keeping – absolutely no internal controls whatsoever,” Ray told the U.S. House of Representatives Financial Services Committee....

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