The Friday Focus: Issue 63

It’s all about policy this week, and lawmakers are louder than ever after the FTX collapse. Let’s dive into it!

Weekly happenings

Top stories

As usual, let’s start with the latest FTX-related news. Alameda Research’s investments were leaked this week, and it’s now clear where some of the customer funds went; In mostly illiquid private placements, and it was reportedly over $5 billion. FTX held talks with Taylor Swift over a $100 million sponsorship deal, but it never went through. FTX’s newly acquired LedgerX is up for grabs (and solvent) as part of the restructuring process. Sam Bankman-Fried is also facing market manipulation inquiries related to TerraLuna. Moreover, SBF has hired Mark Cohen as his defense attorney. The same attorney recently defended Ghislaine Maxwell in her sex trafficking trial. Sounds like someone is guilty…

Headlines have been heavily focused on policy this week. Let’s start in the US, where the House Financial Services Committee is weighing a subpoena for SBF, and The Senate Banking Committee wants him to testify the day after, on Dec 14. Talking about subpoenas, Three Arrows Capital founders, Zhu and Davies, are (finally) getting subpoenaed.

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