One bad news & one good news, which one will you read first about FTX? 👀
FTX US, the American arm of crypto exchange FTX, received a cease and desist letter from the Federal Deposit Insurance Corporation for allegedly making false representations about deposit insurance related to cryptocurrencies., FTX US and four other websites misled the public about crypto-related products being insured by the FDIC. The companies have 15 days to remove the misleading statements and provide evidence to the FDIC.Only a few days ago, Sen.
The FDIC has been vocal in pushing back against perceived contagion risks from the crypto sector to traditional banks.The news network claims access to internal documents that detail revenue growth from $90 million in 2020 to $1.2 billion in 2021. Operating income grew by 1,842.85%, from $14 million to $272 million. Net income experienced a 2182.35% increase from last year's $17 million to $388 million. Furthermore, the exchange saw a 2,182.35% increase from last year’s $17 million.
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