SBF explains FTX’s missing money

Financial Times LogoFinancial Times1 mo ago

SBF explains FTX’s missing money - Financial Times

Quick Summary:

Nomura analyst Charlie McElligott posited that some financial institutions had been behaving like “full-tilt day traders”, trying to “weaponise” the phenomenon to “amplify and ‘juice’ the intended directional market move”.

Bumbling Brexiters City minister Andrew Griffith discussed grand plans for a “Big Bang 2.0” in Britain’s financial sector during the FT’s Global Banking Summit on Tuesday.

Ultimately, the company once valued at $32bn operated in a manner befitting of the children lampooned in William Golding’s Lord of the Flies, albeit with far more cash.“It just kinda went crazy,” said one employee.

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Article Details

Category: MarketsFinanceInvesting



Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-01 @ 05:01:00 (1 months ago)

News Timezone: GMT -5:00

Ranking: #139 (out of 6245 stories this day)

News Source URL:

Language: English

Article Length: 1561 words

Reading Time: 9 minutes read

Sentences: 69 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 2073584

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

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Update Frequency: 8 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 18 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #3

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