When FTX cryptocurrency exchange went bankrupt, an investor specializing in collapsed businesses brokered a market for profiting from its downfall. The investor connected one of his clients with a financial firm to sell its $100 million FTX claim for 6 cents on the dollar. In a recent sale, a $19 million FTX claim was sold for 68 cents on the dollar, earning the broker nearly $100,000. Hedge funds, investment firms, and investors have taken an interest in trading FTX claims. However, some claim buyers and brokers are facing legal issues for falsifying records and misappropriating funds. The sale of claims is expected to speed up the recovery process, even though hundreds of crypto investors will receive less than what is expected. The recovery could be delayed by a $24 billion claim filed by the IRS, which argues that FTX owes the government income taxes, employment taxes, and penalties from 2018 to 2022. Despite this, speculators are still confident in profiting from the market.
Unveiling the Next Big Thing in Crypto Trading: FTX’s Carcass
Elissa began receiving threatening messages early last year from a person calling themselves “Instamodelfan” targeting her daughter’s Instagram account. Despite having over 100,000 followers, the account has been under scrutiny for potentially exploiting children in exchange for money. However, the issue runs deeper than that. Research from The New York Times found that the platform […]Read More
Instagram maintains the 13-year-old minimum age for accounts, but parents can take control, largely for their daughters’ ambitions to become influencers. Parents initiate their child’s modeling career or gain favor from clothing brands, but a dark subculture emerges, controlled by men attracted to minors, as per The New York Times. The emergence of mom-run profiles […]Read More
Beijing’s Networks Expanding Hacking Efforts China has spread its hacking reach with new tools that exploit computer vulnerabilities and a network of contracted vendors. The large scale of China’s hacking operations poses a significant threat, with the FBI reporting China’s hacking program to be larger than all major nations combined. The U.S. has tracked consistent […]Read More