FTX Was Registered with and Licensed by the CFTC, Which Failed to Properly Regulate or Supervise It
November 15th, 2022Via: Better Markets:
FTX via FTX Derivatives US LLC, a derivatives clearing organization (DCO), is licensed by and registered with the CFTC, which was supposed to regulate and supervise it. The CFTC appears to have failed miserably at that and missed what now appears to be multiple failures at FTX to meet fundamental corporate governance standards (including multiple reports of commingling of funds, gross mismanagement, conflicts of interest, improper relationships with affiliates like Alameda, etc.) if not also outright illegal conduct.
