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Most of FTX's Legal and Compliance Team Quit: Report
Semafor, a news organization in which FTX's Sam Bankman-Fried invested, cites people familiar with the matter.
The majority of FTX's legal and compliance team quit Tuesday, Semafor reported, citing people familiar with the matter.
That could create a headache as the cryptocurrency exchange deals with a liquidity crisis and potential regulatory scrutiny.
STORY CONTINUES BELOW
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The Semafor story notes that FTX's Sam Bankman-Fried is an investor in the news organization.
A representative for FTX declined to comment.
Cheyenne Ligon contributed reporting.
Read more: Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: Source
UPDATE (19:43 UTC): Adds note that FTX declined to comment on the reports.
Nick Baker
Nick Baker was CoinDesk's deputy editor-in-chief. He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.
