Op risk data: SEC skewers Goldman for specious ESG claims
Also: FTX hacked; Aussie banks schooled for credit insurance mis-sales; more on Glencore. Data by ORX News
November’s largest loss was suffered by beleaguered cryptocurrency exchange FTX. During the exchange’s bankruptcy proceedings, which started on November 11, reports surfaced that it had been hacked for up to $659 million – later revised downwards to $477 million. The sudden outflow of cash was tangled up with its attempt to transfer all funds into offline storage as part of its bankruptcy.
FTX’s woes came to light on November 2, with news of potential conflicts of interest and transfers of client
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