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In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money. In a note explaining the change, the engineer, Nishad Singh, emphasized that FTX should never sell Alameda's positions. "Be extra careful not to liquidate,” Singh wrote in the comment in the platform's code, which it showed he helped author. Reuters reviewed the code base, which has not been previously reported. The exemption allowed Alameda to keep borrowing funds from FTX irrespective of the value of the collateral securing those loans. That tweak in the code got the attention of the US Securities and Exchange Commission, which charged Bankman-Fried with fraud on Tuesday. The SEC said the tweak meant Ala...

Aussies looking for a bit of extra cash this end of financial year are in luck thanks to a government initiative reconnecting people with money they may have lost. There is about $1.5 billion in lost shares, bank accounts and life insurance, according to Moneysmart.gov.au, a government website offering advice that also helps people recoup their unclaimed money. WATCH THE VIDEO ABOVE: TikToker shares tip on how Aussies can recoup lost money Looking for a new job or job candidate? Post jobs and search for local talent on 7NEWS Jobs >> Money can become lost when an individual moves house and forgets to update their details with their bank. Bank accounts and life insurance policies become unclaimed after seven years if either the account is inactive or the policy matures and is not claimed. “Un claimed money received by ASIC is transferred to the Commonwealth of Australia Consolidated Revenue Fund,” the Moneysmart website states. “It is available to be claimed at any time by the ...