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Cryptocurrency

Sam Bankman-Fried demanded special privileges for his fund, ex-colleague testifies

NEW YORK, Oct 5 (Reuters) - Sam Bankman-Fried's college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder's fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX.The special privileges granted to the hedge fund, Alameda Research, included a $65 billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow, he said. Alameda had withdrawn $8 billion from FTX by the time of the exchange's bankruptcy in November 2022,...
Banking

Red Bull loses bid to suspend EU decision on antitrust raid

FILE PHOTO: European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBRUSSELS, Oct 2 (Reuters) - Austrian energy drinks maker Red Bull has lost its bid to get Europe's second highest court to suspend an EU antitrust decision that underpinned a raid on the company for alleged anti-competitive practices.The European Commission raided the company in March on concerns that it may have violated EU antitrust rules against cartels and abuse of a dominant position.Red Bull subsequently challenged the raid...
Funds

EU mulls how to make enlarged bloc work, to offer cash, market access to candidates

European flags fly outside the European Commission headquarters in Brussels, Belgium September 20, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsEU looks at easier decision-making, budget changes to enlargeEU to offer candidates gradual market access, cash for reformsEU leaders to discuss enlargement on Oct 5-6 in GranadaBRUSSELS, Sept 28 (Reuters) - European Union governments discussed on Thursday how to revamp EU decision-making and finances to be ready for new members as the Commission said it would propose cash and EU market access for candidates to speed up their membership preparations.The talks...
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