Paradigm, BlockFi, Genesis and other companies did not have access to audited financial statements prior to investing or loaning billions to FTX, FTX.US. and Alameda Research, according to testimonies given in the trial of Sam Bankman-Fried. Rather, these investors and lenders looked at unaudited financial statements and spoke with the executives at these companies to determine critical pieces of information like FTX’s cash flow, its liabilities, its current assets and net asset value.Policy, opinion, Newsletters, State of Crypto, Regulations, Sam Bankman-FriedRead More

You might also be interested in reading Why DOGE Falls 10%? SEC’s Meme Coins Stance Failed to Save the Market.