It is a question of timing, which is not terribly important to the Federal Government but it is incredibly important to the small business operator who in the example the gentleman just presented is forced to pay a huge tax bill on income that he has not collected yet. Is that correct?
Discussing the impact of tax timing on small business operators.
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There was unauthorized lending of customer assets to an affiliated entity, and there were apparently fraudulent promises to investors and customers about FTX's operations.
We owe it to each customer to get to the bottom of the FTX implosion, and any violations of the law should be aggressively prosecuted.
It is absolutely essential to investigate any fraud and violations of existing law, and prosecute those who are committing those crimes.
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