The dramatic collapse of the global crypto exchange FTX, where $US10 billion of customer money was found to have been transferred to another business owned by founder and chief executive Sam Bankman-Fried, took an even more bizarre turn this week.
Given the average pay at Stanford is about $US185,000 a year for a tenured professor, questions are mounting as to the provenance of their portfolio in paradise. The Bahamas authorities are concerned that the assets belonging to FTX Digital Markets, the entity incorporated in the Bahamas, might be siphoned off to the United States as part of the broader bankruptcy proceedings.
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Euabalong locals to be airlifted to safety as flooding continuesThe remaining residents of Euabalong in the NSW Central West are to be evacuated by plane due to concerns floodwaters may inundate the town. The Lachlan River is likely to peak at eight metres in the town on Thursday.
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