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Weekly Roundup: FTX Goes Bankrupt, IRS Investigates Cryptocurrency’s Role in Tax Evasion, and More

Amid intense scrutiny from regulators in Japan, Australia and back home in the Bahamas, FTX.com, a global cryptocurrency exchange, filed for bankruptcy in the U.S. following a liquidity crunch that sparked a withdrawal frenzy by customers, the Financial Times reported. More and More Binance, the world's largest cryptocurrency exchange, walked away from a deal to rescue rival FTX out of concern that the regulatory scrutiny a takeover would bring amid U.S. investigations into the former platform's suspected role in facilitating money laundering and sanctions evasion, Reuters reported. More U.S. House Financial Services Committee Chair Maxine Waters (D-CA) cited turmoil at cryptocurrency platform...

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