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Unchained

Why FTX Might Try to Claw Back Funds From Retail Customers- Ep. 547

Sep 22, 2023
Thomas Braziel, founder of 117 Partners, shares his expertise on the FTX bankruptcy saga. He discusses the intricate legal landscape, including the potential lawsuits against Sam Bankman-Fried's parents and the moral implications of their actions. Braziel delves into how civil cases could escalate to criminal charges, and the challenges facing creditors in the bankruptcy process. The possibility of FTX clawing back funds from retail customers is also explored, revealing the tough road ahead for investors seeking recovery.
46:55

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • FTX chief John Ray III is focused on clawing back funds from former affiliates to pay back creditors in ongoing lawsuits.
  • The SEC's crypto assets and cyber unit is intensifying its focus on businesses operating similarly to Coinbase and Binance, with a commitment to bringing charges against violators of federal securities laws.

Deep dives

SEC intensifies focus on crypto exchanges like Coinbase and Binance

The head of SEC's crypto assets and cyber unit, David Hirsch, stated that the agency is intensifying its focus on businesses operating similarly to Coinbase and Binance, including intermediaries and decentralized finance products. Hirsch affirmed the SEC's commitment to bringing charges against violators of federal securities laws.

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