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☆ Bleeding and in pain, a woman endures a harrowing wait for miscarriage care due to Georgia’s restrictive abortion law
▼ + stars: | 2024-11-11 | by ( Jen Christensen | ) edition.cnn.com time to read: +12 min

In an instant, the impacts of her state’s restrictive laws on abortion care became clear: Had Bell been bleeding from a car accident or a burst appendix, doctors could help her right away. But because she was having a miscarriage in a hospital in Georgia, surgery had to wait. Several others restrict it to certain points in pregnancy, including Georgia, which limits abortion to the first six weeks of pregnancy. Bell’s pregnancy was at 18 weeks — too early for her fetus to survive outside the womb but well past Georgia’s limit. Doctors told Bell she’d have to wait, unless her condition grew worse: Georgia makes people wait 24 hours before they can have an abortion except in medical emergencies.

Persons: Avery Davis Bell, Bell, Dobbs, —, Bell she’d, Avery Davis Bell Bell, ‘, ” Bell, “, ’ ” Bell, Brian Kemp, It’s, –, Julian, he’d, ”, Bell’s, “ She’s, Avery Davis, “ It’s, CNN’s, Dr, Sarah Prager, Prager, we’re, There’s, hasn’t, Sanjay Gupta, What’s Organizations: CNN, Emory University Hospital, Republican Gov, ”, Gender Equity, US Centers for Disease Control, Commonwealth Fund, Harvard University, MIT, ” Emory University, Emory Healthcare, American College of Obstetricians, CNN Health Locations: Georgia, Boston, Atlanta, ” But Georgia, Texas, Emory, we’re

☆ LGBTQ candidates saw big election wins, with several historic victories
▼ + stars: | 2024-11-08 | by ( Sarah Prager | Sarah Prager Is A Writer Who Lives In Central Massachusetts With Her Wife | Their Two Children. Her Books Include | ) www.nbcnews.com time to read: +5 min

At least 1,017 out LGBTQ candidates ran for election this year, a 1.1% increase compared with 2020, according to the LGBTQ+ Victory Fund, a political organization that tracks and supports LGBTQ candidates for elected office. The LGBTQ+ Victory Fund endorsed and tracked 477 of the LGBTQ candidates who made it to the general election. As of Friday afternoon, about three-quarters of those races had been called, with LGBTQ candidates having a success rate of approximately 80%. LGBTQ candidates won elections to at least 37 state legislatures this year, according to the LGBTQ+ Victory Fund, and several were historic firsts. “Having LGBTQ+ candidates in the halls of power will be paramount in helping to protect and uphold pro-equality values,” Meloy said.

Persons: ” Sean Meloy, Delaware’s Sarah McBride, Julie Johnson, Emily Randall, Tammy Baldwin, Kyrsten, Laphonza Butler, Kim Coco Iwamoto, Aime Wichtendahl, Wick Thomas, Iwamoto, Thomas, Rashaun Kemp, Amaad Rivera, Wagner, Molly Cook, Donald Trump, Baldwin’s, Eric Hovde, Baldwin, Maria Brisbane, “, ” Meloy, ” Organizations: D.C, U.S . House, U.S . Senate, NBC News, “, South, Latina, Senate, Texas Senate’s, Baldwin’s Republican, AdImpact, Victory, Gallup, Republican Locations: Nebraska, Puerto Rico, Washington, U.S, Texas, Wisconsin, Arizona, California, Hawaii , Iowa, Missouri, Georgia

☆ Lobito Corridor: Angola’s US, Europe-backed railway could change how minerals move in Africa – and globally
▼ + stars: | 2024-11-04 | by ( Amy Gunia | Jackelyn Prager | ) edition.cnn.com time to read: +6 min

CNN —In late August, a container vessel sailed out of Angola’s Port of Lobito carrying railway operator Lobito Atlantic Railway’s first shipment of copper from the Democratic Republic of Congo (DRC) to the US. That’s about 30 days faster than a road journey, according to Francisco Franca, the CEO of Lobito Atlantic Railway (LAR), a consortium of firms that took over operations of the railway in January. The ship took Lobito Atlantic Railways first shipment of copper to the US. “Lobito Corridor is not just a railway line, but is the economic development along the corridor,” said Franca, the CEO of LAR. For companies like his, the benefits of the Lobito Corridor are clear.

Persons: CNN —, Francisco Franca, Franca, LAR, Washington jostle, Emmet Livingstone, Joe Biden, “, David Reekmans, Reekmans, Asia ”, Trump, Joao Manuel Goncalves Lourenco, Evelyn Hockstein, Xi Jinping, ”, Wamkele Mene, Décio Catarro Organizations: CNN, Democratic, Lobito Atlantic Railway, Washington, MSC, Lobito Atlantic Railways, Atlantic Railway, Initiative, Benguela Railway, Partnership for Global Infrastructure, Investment, Getty, Port, White House, Reuters, African Continental Free Trade Area, Industry Locations: Angola’s Port, Lobito, Democratic Republic of Congo, DRC, Europe, Kolwezi, Angola, Africa’s, Beijing, Benguela, China, Africa, Washington, AFP, America, Asia, Zambia, Tanzania, Tanzanian

☆ It's going to take nuclear energy to power AI at scale, says TeraWulf CEO Paul Prager
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's going to take nuclear energy to power AI at scale, says TeraWulf CEO Paul PragerPaul Prager, TeraWulf founder and CEO, joins CNBC's 'Power Lunch' to discuss energy infrastructure, the relationship between AI and energy, and more.

Persons: Paul Prager Paul Prager Organizations: TeraWulf

☆ Intra-African tourism drives economic growth across the continent
▼ + stars: | 2024-09-10 | by ( Jackelyn Prager | ) edition.cnn.com time to read: 1 min

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☆ Aliko Dangote’s mission to build Africa’s largest oil refinery
▼ + stars: | 2024-06-05 | by ( Jackelyn Prager | Jackie Prager | ) edition.cnn.com time to read: +6 min

CNN —Over the past eight years, Aliko Dangote, Africa’s richest man, has built one of the world’s largest oil refineries. Nigeria is one of Africa’s largest oil producers, yet the country has lacked the capability to refine its oil forcing it to rely on imported fuel. Aliko Dangote walks CNN's Eleni Giokos through his oil refinery in Lekki, Nigeria. Did it make economic sense at the time to build a cement plant and compete effectively with imported cement prices? Video Ad Feedback A rare look inside Africa’s largest oil refinery 23:00 - Source: CNNCNN: So how are imports affecting industrialization and local growth of value chains?

Persons: Aliko, I’ve, ”, CNN’s Eleni Giokos, they’ve, Dangote, CNN's Eleni Giokos, we’re, you’ve Organizations: CNN, Dangote Industries Ltd, National Petroleum Corporation, CNN CNN, Obajana, Dangote Cement, Continental Free Trade Area Locations: Lagos, Nigeria, Lekki, India, Dangote, Saharan Africa, Kogi State, Egypt, American, Africa

☆ South Africa has one of the world’s largest manganese reserves. So why does it outsource for processing?
▼ + stars: | 2024-04-30 | by ( Jackelyn Prager | ) edition.cnn.com time to read: +5 min

CNN —On delivery day at the Manganese Metal Company’s industrial complex in Mbombela, South Africa, truckloads of manganese ore from the Kalahari Basin in the Northern Cape are ushered inside for processing. South Africa has the world’s largest manganese reserves; however, the International Manganese Institute estimates only 2% of the manganese ore produced within the country is locally processed. The Manganese Metal Company says it receives 80,000 tons of ore every year, with plans to build a $25 million commercial processing plant by the end of 2026. With an abundance of manganese reserves, South Africa has potential to become a leader in high purity manganese sulfate production, but d’Harambure says “issues with the electricity sector in South Africa” and “an increase in electricity prices” have made it difficult to produce manganese chemicals and alloys there. Green potentialThese obstacles are not stopping the Manganese Metal Company from trying to capitalize on the EV boom and expand its processing facilities.

Persons: Louis Nel, ” Nel, Aloys d’Harambure, Nel, ” d’Harambure, ”, d’Harambure, D’Harambure, It’s Organizations: CNN, International Manganese Institute, Metal, International Energy Agency, Metal Company, Employees, Manganese Locations: Mbombela, South Africa, Northern, EVs, China, Mexico, Australia, Europe, Africa

☆ Ocean scientists shocked by Biden’s budget request that slashes data funding
▼ + stars: | 2024-04-02 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

Its data is used in everything from hurricane forecasting and fisheries to Coast Guard search and rescue – IOOS data can help the Coast Guard narrow down a search area by two-thirds. Despite President Joe Biden’s ambitious climate goals, his recent budget proposal would slash the program’s funding from $42.5 million to $10 million. Ocean data collection is “the only way we can really understand what is happening,” said Kristen Yarincik, executive director of the IOOS Association, the nonprofit that works with NOAA collecting data. IOOS has added 97 water level stations along the coasts of the Carolinas, Georgia and Florida in the last few years. “At least half of the water level sensor network would be compromised with this funding cut.”

Persons: –, Joe Biden’s, Trump, ”, Gerhard Kuska, ” Kuska, Scott Smullen, Kristen Yarincik, ” Yarincik, “, Ellen Prager, IOOS, “ We’re, Debra Hernandez, Hernandez, ” Hernandez Organizations: CNN, Oceanic, Atmospheric Administration, Coast Guard, White, Office of Management, NOAA, IOOS Association Locations: megastorms, Carolinas, Georgia, Florida

☆ Opinion | How America’s Two Abortion Realities Are Clashing
▼ + stars: | 2024-03-08 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +65 min

mary zieglerWell, I think it’s much easier to ban abortion than it is to enforce a criminal law against abortion. mary zieglerNo, I think that’s right. If our abortion politics don’t reflect our abortion views, what does that tell us about the health of the democracy? We’ve seen upwards of 10 states — I think it’s 14 or 15 that have changed their definition of abortion in abortion restrictive states since Dobbs. So, the idea is that abortions that are presented as life saving either are not abortions or are simply pretexts for abortion that’s elective.

Persons: ezra klein, Ezra Klein, ”, overturns Roe, Wade, we’ve, Dobbs, Mary Ziegler, mary ziegler, Roe, they’ve, they’re, didn’t, isn’t, —, We’ve, ezra klein Let’s, mifepristone, Z, They’re, mary ziegler That’s, Comstock, hasn’t, it’s, ezra klein There’s, Kate Cox, kate cox, mary ziegler —, she’d, there’s, you’ll, don’t, you’re, You’re, That’s, I’ve, I’m, they’ll, Ezra, you’ve, that’s, There’s, what’s, Joe Biden, Bill Clinton, You’ve, It’s, Lindsey Graham, Chuck Schumer, Hakeem Jeffries, Trump, mary ziegler There’s, Glenn Youngkin, Glenn Youngkin’s, mary ziegler It’s, we’re, Donald Trump, Roger Severino, Gene Hamilton, Hamilton isn’t, He’s, Stephen Miller’s, Jonathan Mitchell, Biden, — there’s, Josh Prager’s, Jennifer Holland, Daniel K, Williams, Wade ”, Linda Greenhouse, Reva Siegel, ezra klein Mary Ziegler Organizations: New York, Alabama, Republican, U.S, Supreme, for Life, Environmental Protection Agency, mifepristone, and Drug Administration, Republicans, State, Washington State Patrol, Democratic, Catholic Democrat, Wall Street, Act, Virginia Republicans, Republican Party, Leadership, Heritage Foundation, Health, Human Services Department, Trump, Washington Post, New York Times, HHS, Human Services, Department of Justice, Court Locations: Alabama, America, St, Louis , Missouri, East St, Louis , Illinois, Dobbs, Ohio, United States, Texas, mary ziegler — Texas, Kansas, Austin, Houston, Dallas, Florida, Miami, Jacksonville, Tampa, New York, California, Vermont, New Jersey, Missouri, Idaho, Virginia, Colorado, Roe

The animated series is a coming-of-age story set in a futuristic Lagos, Nigeria. Simisola Gbadamosi, who voices Tola in the animated series "Iwájú," attends the world premiere in Lagos, Nigeria, on February 27. As audiences tune in to watch “Iwájú,” Ibrahim says he hopes the family show will speak to viewers of all ages. Kugali co-founders Olufikayo "Ziki" Adeola (left), Hamid Ibrahim (middle), and Tolu Olowofoyekul (right) attend a screening of "Iwájú: in Lagos, Nigeria on February 27. Along with the six-episode series, the soundtrack featuring music by Nigerian composer Ré Olunuga and a game called “Disney Iwájú: Rising Chef” are also being released.

Persons: Hamid Ibrahim, Tolu, ” Ibrahim, ”, ” Adeola, Lagos ” Ibrahim, Simisola Gbadamosi, Siji Soetan, Tola, Kole, Dayo Okeniyi, “, ” Olowofoyeku, ” “, “ Iwájú, Kugali, Olufikayo, Tolu Olowofoyekul, CNN Ibrahim, Disney, Christine Service, Ré Olunuga, Ibrahim Organizations: Nigeria CNN —, Kugali Media, Walt Disney Animation Studios, CNN, Disney, Disney Channel, Walt Disney Company Locations: Lagos, Nigeria, Africa, Femi, Walt Disney Company Africa, Nigerian

☆ Opinion | The Squandered Potential of Tim Scott
▼ + stars: | 2023-11-14 | by ( Osita Nwanevu | ) www.nytimes.com time to read: +3 min

The book itself suggested otherwise — that Mr. Scott was not only as fixated on his own color as the critics he scorned but also as determined to make use of it. Walker, whom Mr. Scott evidently sees as his historic peers. To be sure, the substance of Mr. Carson’s commentary on race did resemble Mr. Scott’s. That, to me, is racism.”But unlike Mr. Scott, Mr. Carson rarely discussed race of his own volition, on or off the stump. So where Mr. Carson ran largely as a conventional evangelical Republican candidate — racial dog whistles and all — Mr. Scott actively tried and failed to make a race-based message connect.

Persons: Scott, Jackie Robinson, Madam C.J, Walker, Scott’s, Ben Carson’s, Carson, Dennis Prager, ” —, “, ”, Molly Ball, Carson’s, Ball, Mr Organizations: Republican, South Locations: The, South Carolina

☆ Mzansi Youth Choir: The South African group that brought Simon Cowell to tears eyes next stage of US singing competition
▼ + stars: | 2023-08-22 | by ( Jackelyn Prager | Jackie Prager | ) edition.cnn.com time to read: +4 min

CNN —On a stage more than 16,000 kilometers (10,000 miles) away from the small township of Soweto in Johannesburg, South Africa, the Mzansi Youth Choir was seeing their dreams come true before their eyes. Ever since, the choir has been back in South Africa preparing for the next step of their journey. “Coming to the US to perform on the world’s biggest stage, ‘America’s Got Talent,’ is a dream come true,” choir member Zoe Gulwa, 21, told CNN during a recent interview in Johannesburg. The Mzansi Youth Choir is family away from family,” said Mphahlwa. Trae Patton/NBC via Getty ImagesEyes on the prizeThe Mzansi Youth Choir has performed alongside musical talents including Shakira, Beyoncé and South African flutist Wouter Kellerman.

Persons: ‘, Zoe Gulwa, Jane “ Nightbirde ” Marczewski, Simon Cowell, “, ”, Nightbirde, ” Gulwa, would’ve, they’ll, Marina Zaaiman, Zaaiman, Jannie, Jannie Zaaiman, “ They’ve, Trae Patton, Shakira, Wouter Kellerman, America’s, ” “, Keneilwe Melato, It’s Organizations: CNN, NBC, Getty Locations: Soweto, Johannesburg, South Africa

☆ Opinion | Using Frederick Douglass to Rationalize Slavery? In Florida, Yes!
▼ + stars: | 2023-08-16 | by ( Charles M. Blow | ) www.nytimes.com time to read: +1 min

Last month, the Florida Department of Education announced that grade-school teachers could use videos produced by Dennis Prager’s PragerU Kids in their classrooms. PragerU is no more a university than Trump University was. In fine type at the bottom of its webpage, it admits that “PragerU is not an accredited university, nor do we claim to be. We don’t offer degrees, but we do provide educational, entertaining, pro-American videos for every age.”In reality, PragerU is little more than a propaganda media site. The Southern Poverty Law Center takes an even dimmer view of its credentials, saying, “PragerU seems to be yet another node on the internet connecting conservative media consumers to the dark corners of the extreme right.”

Persons: Ron DeSantis’s, Dennis Prager’s, “ PragerU, ” Organizations: Republican, Florida Department of Education, Trump University, Southern Poverty Law Center Locations: Florida

☆ Anthony Ochieng Onyango wants others to see conservation through a different lens
▼ + stars: | 2023-04-19 | by ( Jackie Prager | ) edition.cnn.com time to read: +2 min

CNN —Crouching in the brush of Kenya’s Ruma National Park, award-winning conservation photographer Anthony Ochieng Onyango eyes what he’s spent a year looking for – the roan antelope. It’s estimated there are only 60,000 of them left on the continent, and as of July 2021, there were only 15 living in Ruma National Park, according to the Kenya Wildlife Service. The roan antelope is seen grazing in Ruma National Park, Kenya. “We need to speak their language so we can get into their hearts to take action in conservation,” Onyango said. “My hope is for the students to just be able to appreciate what they currently have within their ecosystem.”Photographer Anthony Ochieng Onyango in action during a trip to Ruma National Park in Kenya, searching for the elusive roan antelope.

☆ Lack of Crypto Audit Regulation Raises Questions About PCAOB Authority
▼ + stars: | 2023-02-17 | by ( Mark Maurer | ) www.wsj.com time to read: +6 min

Additionally, there isn’t a regulatory framework for audits for many crypto companies. The SEC, which oversees the PCAOB, is reviewing how crypto companies portray reports from audit firms in the aftermath of the FTX collapse. The PCAOB—which sets audit standards, inspects audits and disciplines audit firms—has said it can only oversee audits of public companies and SEC-registered broker-dealers. In a letter last month to PCAOB Chair Erica Williams, they said the watchdog ignored what they called questionable practices by auditors of crypto companies. Even potential improvements to crypto audit regulation might not prevent fraud in the crypto industry, said Andrew Kitto, an assistant professor of accounting at the University of Massachusetts Amherst and a former PCAOB economic research fellow.

☆ Boies, co-counsel move to grab control of all private FTX cases
▼ + stars: | 2023-02-13 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Judicial Panel on Multidistrict Litigation, that the judge overseeing their Miami cases, U.S. District Judge Michael Moore, has already proven in their brand ambassador cases that he can steer FTX cases quickly and efficiently. Not everyone pursuing claims on behalf of FTX customers agrees with Boies and Moskowitz. (To be clear, these private cases are different from cases that could be brought by a court-appointed receiver or trustee in FTX’s Chapter 11 bankruptcy.) If the cases go to California, the California slate is a likelier candidate. It will be a few months before any ruling on the Boies and Moskowitz consolidation petition.

Jan 26 (Reuters) - U.S. Democratic Senators Elizabeth Warren and Ron Wyden are calling on the country's accounting watchdog to increase oversight of firms that audit cryptocurrency companies in the wake of the collapse of crypto exchange FTX. “When PCAOB-registered auditors perform sham audits – even for firms that may lay outside of the PCAOB’s jurisdiction – they tarnish the credibility of the PCAOB," Warren and Wyden wrote. A PCAOB spokesperson confirmed the board had received the letter and said it would respond to the lawmakers directly. Bankman-Fried has previously acknowledged risk-management failures at FTX but has said he does not believe he has criminal liability. Reporting by Hannah Lang and Douglas Gillison in Washington; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ FTX US's auditor stands by its accounting work for the collapsed crypto exchange, report says
▼ + stars: | 2022-12-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Armanino, the auditor for FTX's US branch, defended its accounting work for the exchange. "We were never engaged to audit internal controls," the company's chief operating officer told the FT.Armanino has stopped its auditing and proof of reserve work. "We definitely stand by the FTX US work," Armanino chief operating officer Chris Carlberg told the Financial Times on Friday. During a congressional hearing, Ray pointed to the fact that the multibillion-dollar crypto exchange used QuickBooks to manage its finances, and approved invoices via Slack. Armanino and Prager Metis, the auditor of FTX International, are being sued by FTX customers.

☆ The 'Twitter Files' part 2 claimed to 'reveal' that the platform limited some accounts' reach, but that was already public knowledge — and in line with Elon Musk's new 'freedom of speech, not freedom
▼ + stars: | 2022-12-09 | by ( Rebecca Cohen | Erin Snodgrass | Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Twitter first announced in 2018 it would effectively hide some tweets from conversations and search results, according to The Washington Post's Will Oremus. Critics, and there were many, especially as prominent Republicans were impacted, referred to Twitter's practice of limiting certain tweets' visibility as "shadowbanning." In her thread, Weiss said Twitter's Strategic Response Team - Global Escalation Team, known as SRT-GET, was the body tasked with deciding which users were marked for "visibility filtering." The description outlined by Weiss of Twitter's internal moderation policy appears to fall in line with Musk's own recently-announced approach to content moderation on the site: "Freedom of speech doesn't mean freedom of reach. But Weiss, a former New York Times columnist, is not thought to be a current employee at Twitter.

Yet for former Ghana star Derek Boateng, they hold a personal truth. “Football saved my life, because without football I don’t know where I would be or what I would be doing,” he told CNN. Just four years earlier, Ghana had competed at its first ever World Cup, in Germany, with Boateng again featuring. “Playing the World Cup is everything to me, as a football player. Pius Utomi Ekpei / AFP via Getty ImagesThat mantra lay at the heart of Boateng’s playing career, and it is a message he repeats to aspiring student-athletes at the academy.

☆ More Crypto Exchanges Verify Reserves, But Questions About Assets Remain
▼ + stars: | 2022-12-05 | by ( Mark Maurer | ) www.wsj.com time to read: +7 min

Most crypto exchanges are privately held, meaning they don’t have to file financial statements with the Securities and Exchange Commission or get them audited. He added that customers of crypto exchanges should “look for as rigorous of that as you can look for regulatory reporting.”FTX founder Sam Bankman-Fried sat down with The Wall Street Journal to discuss what happened to the billions of dollars deposited by the exchange’s customers. Photo: Kenny Wassus/The Wall Street JournalSuch a third-party verification represents a step toward more transparency around crypto exchanges, but there are significant shortcomings, some academics said. Coinbase Global Inc. last month reported $95.11 billion in both customer crypto assets and liabilities for the quarter ended Sept. 30, up from $88.45 billion the previous quarter, filings show. Still, the PCAOB encourages investors to review reports on the work those companies’ auditors have done, Chair Erica Williams said at a conference Tuesday.

☆ You may think Twitter was wrong to censor the Hunter Biden laptop story but it wasn't a violation of the First Amendment
▼ + stars: | 2022-12-05 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Twitter, as a private company and not the government, can choose what it does and does not publish. But whether or not the decision was wrong, it wasn't a violation of the First Amendment of the Constitution. "Twitter is not a state actor and the First Amendment applies only to state actors." So whether or not Twitter could violate the First Amendment, depends on whether or not it can be considered the government. "Both the state, the Trump White House, and the Biden team were asking Twitter, and Twitter was under no obligation to either oblige or refuse those requests," Kalir said.

The new CEO of FTX issued a searing indictment of the company’s operations Thursday in a court filing as part of the company’s ongoing bankruptcy process. New CEO and restructuring officer John Ray wrote that the company had a striking lack of financial records, internal communications or even a clear idea of who worked there. Bankman-Fried and FTX did not immediately respond to requests for comment. Throughout his filing, Ray insisted that the financial records of the organizations overseen by Bankman-Fried are frequently either nonexistent or untrustworthy. “One of the most pervasive failures of the FTX.com business in particular is the absence of lasting records of decision-making,” Ray said.

☆ FTX used corporate funds to purchase employee homes, new filing shows
▼ + stars: | 2022-11-17 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

The logo of FTX is seen on a flag at the entrance of the FTX Arena in Miami, Florida, November 12, 2022. Corporate funds were used to purchase Bahama homes and "personal items" in the name of employees and advisors of FTX, a bankruptcy declaration said, days after the penthouse apartment of founder Sam Bankman-Fried was listed for nearly $40 million. Auditing for one of the FTX corporate verticals – what Ray referred to as "Silos" – was done by Prager Metis, a firm with "which I am not familiar," Ray wrote. Ray, who oversaw Enron's bankruptcy proceedings and restructuring, declared he had 40 years of experience in the bankruptcy and corporate space. FTX and affiliated companies, including Alameda Research, Bankman-Fried's crypto trading firm, filed for Chapter 11 bankruptcy protection earlier this month.

☆ Breakingviews: FTX affords a turning point in venture governance
▼ + stars: | 2022-11-17 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

The new chief executive of the collapsed cryptocurrency exchange, insolvency veteran John Ray, uncovered giant financial gaps and signs of looting. Ray’s first in-depth account, submitted to the court on Thursday, reveals a brazen lack of controls and governance. Financial statements dated to Sept. 30, when founder Sam Bankman-Fried was in charge, contain no record of customer liabilities at either the U.S. subsidiary or the international division. Many of the FTX corporate entities never had board meetings. Ray also criticised his predecessor and FTX co-founder Sam Bankman-Fried for making “erratic and misleading public statements”.

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