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The U.S. SEC and auditor Prager Metis have settled claims over negligence tied to the defunct crypto exchange FTX. Prager will pay $1.95M for allegedly misleading reports on FTX from Feb 2021 to Apr 2022.
Key Points:
- SEC claims Prager failed to meet auditing standards.
- FTX investors lacked crucial protections, leading to massive losses.
- FTX's collapse revealed falsified financials and misused funds.
Sam Bankman-Fried, FTX's founder, is appealing his 25-year prison sentence, alleging judicial bias.
đŹ What do you think about the SEC's actions? Share your thoughts below!