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Bankman-Fried is one of the three directors of FTX Australia. The local directors put the operations in the hands of administrators from KordaMentha, who have begun examining the crypto exchange's books to see whether there are enough assets to pay back local customers. Original Source
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Kristin N. Johnson discusses the FTX fiasco and why Congress should take a pragmatic approach in closing the regulatory gap. Source
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FTX founder and CEO Sam Bankman-Fried took to Twitter again on Nov. 7 to claim that "a competitor is trying to go after the cryptocurrency exchange with false rumors", while also calling for collaboration with the rival exchange Binance. The comments follow a statement from Binance CEO Changpeng “CZ” Zhao
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Blockchain gaming company Gala Games urged its community for calm after misplaced fears of a multi-billion dollar rug pull or hack caused the GALA token to temporarily crash 25.6%.The initial panic, which Gala Games later implied was unfounded, came after a single wallet address appeared to mint over $2 billion
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Phil Spencer, CEO of gaming at Microsoft and head of Xbox, directed some criticism at the idea of the metaverse and how it is being executed. Spencer remarked that for him, the current metaverse is a “poorly built video game,” but also that the sector was still in its early
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Pham Minh Chinh, the prime minister of Vietnam, has reportedly said the country’s government should study crypto regulation in part based on residents continuing to trade digital assets despite their lack of legal recognition.According to an Oct. 24 report from online news outlet VnExpress, Chinh hinted a bill on anti-money
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The Crypto and Digital Assets All Party Parliamentary Group (APPG), which is chaired by Scottish National Party member of parliament (MP) Lisa Cameron, has called for the British government to provide clarity in terms of its commitments to the crypto sector. Source
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A U.S. senator has called on the Securities and Exchange Commission (SEC) to issue crypto regulations now “through a transparent notice-and-comment regulatory process.” He stressed that “some digital assets are securities, others may be commodities, and others may subject to a completely different regulatory regime.” US Senator Calls for ‘Transparent Notice-and-Comment
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The application process seems to be “going well,” so far, said Zach Dexter, the CEO of FTX US Derivatives, at a separate event on Friday – the Security Traders Association market structure conference. FTX had seen the existing market as “a difficult system to deal with for retail investors” to
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“At some point, when you've given your message to voters, there's just not a whole lot more you can do,” Bankman-Fried said. “You can spend more time on it, and more messaging, more money, more anything else, [but] you're not accomplishing anything more.” Source
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