SBF: The biggest mistake made at FTX was not setting up a dedicated risk management team
FTX founder Sam Bankman-Fried testified today that his biggest mistake at FTX was not establishing a dedicated risk management team and chief risk officer. As a result, there was no regulation of bankrupt cryptocurrency exchanges. When his lawyer Mark Cohen asked if FTX had a risk management team during rapid growth, Bankman-Fried said, "Of course we should have, but we didn't."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US CFTC: Commissioner Summer Mersinger to resign
S&P 500 falls 0.2%, hitting session low
Anthropic under fire for alleged AI-fabricated citation in copyright lawsuit
Share link:In this post: Music companies claim Anthropic used AI to create a fake academic citation in court. A judge has ordered Anthropic to respond to the allegation, which it calls an unintentional error. This case is part of a larger wave of copyright lawsuits against AI firms over unauthorized use of creative content.
Trending news
MoreCrypto prices
More
