Hong Kongs Financial Market Watchdog has warned about the risks posed by online platforms that allow the storage of cryptocurrency and other digital assets. The announcement comes amid turbulent times in the crypto markets. This week, the founders of failed cryptocurrency exchange FTX were arrested and charged. Gary Gensler, chairman of the Securities and Exchange Commission (SEC), said that the former FTX CEO built his house of cards on a foundation of deception.
Later Tuesday, Mr Bankman-Fried was denied bail by a Bahamas judge. Bahamas Chief Magistrate JoAnne Ferguson-Pratt declined his petition to be released on bail, citing “a high” flight risk and ordered him to remain remanded at the Correctional Facility until 8 February.