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Several key Senators within the Democratic Party have expressed concern over the collapse of crypto exchange FTX, which was led by major election donor Sam Bankman-Fried. Sen. Sherrod Brown, who will continue to chair the Senate Banking Committee, and Sen. Elizabeth Warren, who sits on that committee, have both called
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Former U.S. Treasury Secretary Lawrence Summers has compared crypto exchange FTX to Enron, noting that the case is a classic fraud rather than the complexities of cryptocurrency regulation. He said the regulatory community ought to draw two lessons from the collapse of FTX. Larry Summers Compares FTX to Enron Former Treasury Secretary
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Tracing the CryptoX Market Index (CMI) through key news developments in the swift unraveling of billionaire Sam Bankman-Fried's crypto empire shows just how quickly the speculation kept shifting. Source
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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined two paths the agency is taking to regulate the crypto industry. Meanwhile, a U.S. congressman is investigating whether Gensler helped FTX CEO Sam Bankman-Fried and his bankrupt crypto exchange on legal loopholes to obtain a regulatory
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Bitcoin (BTC) was recently trading at about $16,675, down nearly 7%. The largest cryptocurrency by market capitalization was still hovering near $17,000 when CryptoX reported that FTX, the once-widely revered exchange, had filed for bankruptcy after a fruitless search for a rescuer. The ongoing fallout for an already shellshocked crypto
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Voyager Digital is ending the deal to sell itself to FTX US after the latter also declared bankruptcy on Friday. Source
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Peirce did not state which agency should be responsible for regulating the crypto industry, and added that “having one regulator devoted to crypto could be problematic.” She did, however, suggest that crypto and the underlying blockchain technology that powers it could be “integrated into the back end of the financial
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The firm faces no risks of insolvency, Matrixport's spokesperson told CoinDesk. Original Source
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The Department of Financial Protection and Innovation (DFPI) in the state of California announced on Nov. 10 that it will open up an investigation as to the “apparent failure” of the cryptocurrency exchange FTX. California regulators said in the announcement that the DFPI takes this oversight responsibility “very seriously” and that
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United States senators Debbie Stabenow and John Boozman have doubled down on their commitment to publishing a final version of the Digital Commodities Consumer Protection Act 2022 (DCCPA) in the wake of FTX’s shocking collapse.For a short time, the cryptocurrency community wasn’t sure how the senators would respond to the
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