FinTech Weekly Issue #392 - Is It Just The Beginning?

The FTX collapse has legal consequences for its founder, Sam Bankman-Fried. The young entrepreneur is known not only for FTX, but also for being a philanthropist and a financial supporter of Democrats. But we're also discovering that Bankman-Fried gave large sums of money to different news organizations before the collapse of FTX. Joe Concha, media critic, asks for "total transparency" from these organizations.

BlockFi, the cryptocurrency lender mainly focused on small businesses, finally filed for bankruptcy in the US on Monday, following the fall of FTX.

The colossal hack that involved Twitter allowed hackers to record the data of over 5 million Twitter users. Twitter confirmed that the bug that allowed the hack was fixed in January 2022, while it seems that hackers started selling data in July 2022. Despite the bug being fixed, security experts - following the report released by BleepingComputer over the weekend - affirm that stolen data can still be used to steal other sensitive data.

New meeting, new interest rate. The Federal Reserve's Federal Open Market Committee will meet in December, and it's almost certain that they will communicate another interest rate hike.

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