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On July 11, Iranian Parliament Speaker Mohammad Ghalibaf announced on social media that those responsible for the killing of Ali Khamenei would be held accountable. Ghalibaf emphasized that those responsible for attacks on Iranian territory, the killing of Iranian citizens, and especially the murder of Ali Khamenei, would be punished. The funeral for the late Supreme Leader Ali Khamenei was held on July 9 in Mashhad, his birthplace in northeastern Iran.On July 11, the Ministry of Civil Affairs issued a notice requiring local civil affairs departments to make every effort to carry out flood prevention and disaster relief work. The notice requires that social forces be guided and regulated to participate in disaster relief in a scientific and orderly manner. It calls for active cooperation with emergency management and other departments to guide social organizations in the emergency rescue field to leverage their professional advantages, connect with social resources, and coordinate flood prevention and disaster relief work in an orderly and collaborative manner. It also requires guiding charitable organizations to proactively connect with the needs of disaster areas, conduct disaster relief charitable donations in accordance with laws and regulations, promptly allocate donated funds and materials, and ensure information disclosure.July 11 - According to data from Lighthouse Pro, as of 8:34 PM on July 11, the daily box office revenue of the domestic film market exceeded 300 million yuan, marking the first time since February 26 this year that the daily box office revenue has exceeded 300 million yuan.July 11th - According to the official WeChat account of Hangzhou Metro, due to the impact of Typhoon Bavi (No. 9), Hangzhou City has activated a Level I typhoon emergency response. Starting at 6:00 AM on July 12th, the entire metro network will be suspended, with the resumption time to be announced separately.On July 11, Claudio Descalzi, CEO of Eni, the Italian state-owned holding group, stated that if the Middle East conflict continues, the global oil market will break through the current range of approximately $80 to $100 per barrel by the first quarter of 2027 at the latest, pushing up inflation and reducing energy demand. In an interview published Saturday in Il Sole 24 Ore, Descalzi said that the release of strategic reserves has so far helped keep crude oil prices roughly within this range, but this strategy is facing increasing risks because global reserves are finite. “The long-term solution is to enhance energy security through the diversification of supply sources and routes,” he said. Descalzi noted that global oil inventories have fallen by an average of 3.8 million barrels per day due to disruptions related to the war with Iran that began at the end of February, accelerating to an average of 4.6 million barrels per day in May. He stated that countries should focus on producers in North Africa and sub-Saharan Africa, Latin America, and Southeast Asia, while reducing reliance on controlled maritime routes.

FTX collapse being scrutinized by Bahamas investigators

Skylar Shaw

Nov 14, 2022 16:33

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Investigators in the Bahamas are investigating into whether any "criminal behaviour happened" in connection with the collapse of FTX, according to a statement from the Royal Bahamas Police on Sunday.


One of the most high-profile cryptocurrency meltdowns, FTX filed for bankruptcy on Friday after traders rushed to remove $6 billion off the platform in only 72 hours and rival exchange Binance abandoned a potential rescue deal.


In a statement released on Sunday, the Royal Bahamas Police said: "A team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate whether any criminal misconduct occurred in light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd."


FTX did not react right away when Reuters asked for a comment.


John J. Ray III, the newly appointed CEO of FTX, stated on Saturday that the organization was working with law authorities and regulators to address the issue and was "making every effort to safeguard all assets, wherever located."


Sam Bankman-Fried, the exchange's 30-year-old founder who is well known for wearing shorts and a T-shirt, has gone from being the face of the cryptocurrency industry's accomplishments to the main character of the sector's worst crash as a result of the exchange's rapid fall from grace.


Bankman-Fried, a resident of the Bahamas, has also been the focus of suspicions regarding his location; he shot off those claims on Twitter. He texted Reuters on Saturday to say "Nope" in response to their inquiry about whether he had traveled by plane to Argentina. He claimed to be in the Bahamas to Reuters.


At least $1 billion in customer cash have disappeared from the platform due to the upheaval at FTX, sources told Reuters on Friday. According to the sources, Bankman-Fried had transferred $10 billion in customer cash to his trading firm, Alameda Research.


Ryne Miller, the U.S. general counsel for FTX, tweeted on Saturday that the company was moving its digital assets into "cold storage" "to mitigate damage upon spotting unlawful activities," Miller wrote.


In order to protect against hackers, cold storage refers to cryptocurrency wallets that are not connected to the internet.


FTX International and FTX United States have lost $659 million in the previous 24 hours, according to blockchain analytics company Nansen.


FTX Trading claimed in its bankruptcy filing that firm has assets worth between $10 billion and $50 billion, liabilities between between $10 billion and $50 billion, and more than 100,000 creditors. As CEO, Ray, a restructuring specialist, was chosen.


According to a document provided by Bankman-Fried with investors on Thursday and seen by Reuters, FTX has $14.6 billion in assets and $13.86 billion in liabilities. Only $900 million of those assets, however, were liquid, creating a liquidity shortage that resulted in the company declaring bankruptcy.


Investors were surprised by the drop, which renewed calls for regulation of the cryptoasset industry, which has suffered losses all year due to the decline in bitcoin prices.


After Binance abandoned its rescue agreement for FTX on Wednesday, Bitcoin went below $16,000 for the first time since 2020.


Its price on Saturday was about $16,5600, a significant drop from its record high of $69,000 BTC=BTSP in November of last year.