Titled this in the style of an authoritative legal tome: "Prosser and Keeton on Torts" (West, $1,012.90) or Chitty on Contracts*(Sweet & Maxwell, £425.00), here's Izabella.
Writing at UnHerd, December 22:
The CEO targeted FTX for defensive, not offensive, reasonsWith Sam Bankman-Fried, the founder and CEO of collapsed crypto exchange FTX, now in custody and facing charges of wire fraud, securities fraud, money laundering and a campaign finance violation, attention is turning to the health of his major rival, Binance.
The competitor exchange has been suffering billions of dollars of outflows over the last few days, amid growing concerns that the entire industry may be deeply undercapitalised and gripped by a deep contagion effect. There are also fears that Binance could be hit with a £2.1bn clawback if FTX bankruptcy proceedings conclude that Bankman-Fried used illicit gains to buy the shareholdings of Binance’s founder Changpeng Zhao, who is known as “CZ”.
Binance’s efforts to stop the bleeding with third-party assessments of its reserves, known as “proof of reserves”, have also started to backfire. This is down to a better public understanding of the limitations of such reports, which do little to assess the wider financial health of crypto companies or the scale of their liabilities....
....MUCH MORE
*Although, owing to a certain oil deal gone bad, Williston on Contracts also comes to mind.
*Although, owing to a certain oil deal gone bad, Williston on Contracts also comes to mind.
