, Europe

Weekly Global News Wrap: Crypto exchange FTX owes $3.1b to creditors; Deutsche ex-trader sues bank for $150m

And Italy’s UniCredit gives German staff bonuses up to 2,500 euros for inflation.

From Reuters:
Cryptocurrency exchange FTX says that it owes its 50 biggest creditors nearly $3.1b.

The exchange owes about $1.45b to its top 10 creditors, according to a court filing.

FTX filed for US bankruptcy court protection in Delaware on 11 November, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.

From Reuters:
Deutsche Bank AG has been sued for $150m by a former trader who accused the bank of “malicious prosecution.”

Matthew Connolly said that the bank made materially false statements to the US Department of Justice. 

He alleged that the German lender saw him as the “perfect fall guy” though he had “nothing to do” with Libor in order to shield top executives.

From Reuters:
Italy’s second-largest lender UniCredit will be giving its German staff a bonus of 2500 euros ($2,594) to compensate for rising inflation, according to an internal memo seen by Reuters and confirmed by a spokesperson.

Trainees will receive a bonus of up to 1,250 euros, depending on the time they worked for the bank, the memo showed.

The bonuses are exempt from tax as well as social security charges and will be paid out in December.

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