Clawback suits. FTX cannot declare chapter 11 because of these. Dealing in unregistered securities is unprotected by the FDIC but also subject to very strong anti-Ponzi laws. Binance is covering up, not buying.
That is basically meaningless to me as a non-finance person, but why would Binance want to cover up a rival’s crimes?
Possibly to reduce overall regulation of crypto and subsequent heat on Binance.
Clawback suits. FTX cannot declare chapter 11 because of these. Dealing in unregistered securities is unprotected by the FDIC but also subject to very strong anti-Ponzi laws. Binance is covering up, not buying.
That is basically meaningless to me as a non-finance person, but why would Binance want to cover up a rival’s crimes?
Possibly to reduce overall regulation of crypto and subsequent heat on Binance.