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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 Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States that the regulator requested the exchange halt operations for its Europe arm.According to a Nov. 11 Reuters report, the CySEC said it had asked FTX Europe
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After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published a consumer alert and said the state regulator was “investigating the apparent failure of
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Japan's FSA ordered FTX Japan to enter "close-only" mode on Thursday, meaning users should be able to wind up existing positions, but not initiate new ones. In the order, the regulator noted that the exchange had halted withdrawals without specifying a date for reinstatement and that it continued to enlist
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JPMorgan said investors can potentially look for a bottom in bitcoin (BTC) pricing through its production cost, which has sometimes acted as a floor. The current production cost is about $15,000, though it's likely to revisit the $13,000 it hit in recent months, implying a decline of around 25% from
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According to blockchain transaction data provided by WhaleAlert.io on Nov. 10, Tether appears to have frozen 46,360,701 USDT ($46,274,472) owned by troubled cryptocurrency exchange FTX in its Tron blockchain wallet. The move comes one day after the U.S. Securities and Exchange Commission and the U.S. Justice Department began investigating FTX
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Financier and influencer Sam Bankman-Fried flew exceptionally high during the pandemic-driven crypto bull market. Here’s what led to his fall, and why it matters for the industry’s future. Source
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According to a report from Orthogonal Credit, a delegate of Maple Finance’s lending pools, the firm decided “earlier this year” not to lend to Alameda Research, FTX’s quantitative trading firm. Orthogonal said through “due diligence” it “identified a number of key weaknesses” associated with Alameda. Orthogonal Credit Found ‘Key Weaknesses’ Tied
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“Its proposal with the CFTC to offer central clearing of margin products to retail customers will be seen in a different light,” said Ian Katz, a managing director at Capital Alpha Partners, in a Tuesday research note. Bankman-Fried has been on a Washington charm offensive in recent weeks, Katz wrote,
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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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