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Before watching familiarize yourself with wash trading. It refers to an illegal activity in which a single trader buys and sells the same security in order to generate misleading market information. I. Watch the video below with captions on and answer the question:Why did FTX get a no-action relief*? No-action relief is a mechanism that allows registrants to obtain certain assurances when their conduct may touch upon a gray area of regulation, or even may be technically proscribed, but does not raise the policy concerns underlying a particular rule. II. Watch again and fill in the table
What loophole did Sam Bankman-Fried use to earn his starting captial? What sort of company did he set up an whom did he invite as partners? what returns did Alameda research offer its clients? How did the company violate its own guidelines? How did FTX help Ukarain? WHom did they give money to to gain political leverage? How did inflation affect crypto products? How did Sam try to save his own investment company Alameda? What cobglict of interests was notices with the SEC and FTX through Caroline, Sam's collegue? How did Binance's owner CZ ruin FTX? What grudge did he have against FTX? How much money did FTX have in liability and how much did they have in liquid assets? What charges were made against Binance itself? Where did the mysterious hacker move the $600mln our of FTX? Who and how much invested into the failing crypto platform? Who is rumoured to have siphoned over half a bln from FTX? Describe the egregious ethical lapse that Sam committed in relations to is customersand partners. |