FTX backtracks on FDIC insurance but fails to delete all references


FTX Backtracks On FDIC Insurance But Fails To Delete All References

Following the calls for from the FDIC for FTX to stop making deceptive statements about FDIC insurance coverage, FTX CEO Sam Bankman-Fried took to Twitter to undertake disaster administration. SBF acknowledged that the message was “getting garbled” relating to actions taken by FTX to distance itself from protocols that won’t adjust to U.S. sanctions.

FTX Backtracks On FDIC Insurance But Fails To Delete All References

To be clear–that is getting garbled. We’re consistently monitoring transactions for AML compliance, and do enhanced due diligence on sure transactions, however that doesn’t imply that any accounts have been frozen. https://t.co/FVOGHUa4TJ

FTX Backtracks On FDIC Insurance But Fails To Delete All References

— SBF (@SBF_FTX) August 19, 2022

FTX Backtracks On FDIC Insurance But Fails To Delete All References

FTX Backtracks On FDIC Insurance But Fails To Delete All References

Confusion arose as FTX allegedly froze a consumer’s account for interacting with the Aztec Community, seemingly believing the protocol may very well be a goal for OFAC. SBF’s remarks have been made on a busy night time for FTX after firm President Brett Harrison deleted a tweet underneath FDIC instruction. Harrison additional acknowledged that FTX “didn’t imply to mislead anybody.”

FTX Backtracks On FDIC Insurance But Fails To Delete All References

Per the FDIC’s instruction I deleted the tweet. The tweet was written in response to questions raised on twitter relating to whether or not direct USD deposits from employers have been held at insured banks (i.e. Evolve Financial institution).

FTX Backtracks On FDIC Insurance But Fails To Delete All References

— Brett Harrison (@Brett_FTX) August 19, 2022

Nonetheless, Harrison didn’t delete all FDIC insurance coverage references, because the tweet beneath . Whether or not the tweet was deliberately left or just missed by the FDIC and FTX is unclear.

Supply: Twitter

It is a growing story; this text can be up to date as acceptable.

The publish FTX on FDIC insurance coverage however to delete all references appeared first on CryptoSlate.



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