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CFTC chair Rostin Behnam appeared before a Senate Agriculture Committee to talk about how FTX happened and how it could have been prevented. Go to Source Powered by WPeMatico
“The customer property at LedgerX — the CFTC regulated entity — has remained exactly where it should be, segregated and secure,” said Rostin Behnam in a hearing on FTX’s failures. Go to Source Powered by WPeMatico
CFTC has faced a lot of scrutiny in the wake of FTX collapse due to its ties with the crypto exchange and SBF’s efforts to put the committee as the key oversight body for crypto. Go to Source Powered by WPeMatico
Two other associates that helped run the U.S.-based fraudulent crypto platform EmpiresX left the country early this year and are believed to be in Brazil. Go to Source Powered by WPeMatico
Speaking the FIA meeting in Singapore, Christy Goldsmith Romero compared the typical crypto investor, who may be of modest means, with the investors the CFTC is used to. Go to Source Powered by WPeMatico
On Nov. 29, 2022, the crypto supporter and reporter, Tiffany Fong, published an interview with the former FTX CEO Sam Bankman-Fried (SBF) that was recorded 13 days before the interview was released. During the interview, SBF discussed who he thinks may have hacked FTX and he further denied he had a backdoor installed to funnel … Read more
The hearing, titled ‘Why Congress Needs to Act: Lessons Learned from the FTX Collapse’, will be one of the first in which U.S. lawmakers explore what happened with the exchange. Go to Source Powered by WPeMatico
According to the CEO of CME Group, Terry Duffy, the executive met with former FTX CEO Sam Bankman-Fried (SBF) last March at a conference, and Duffy ended up calling the FTX frontman a “fraud.” When Duffy sat down with SBF, the former FTX executive said his end goal was to compete with CME Group. Last … Read more
The commissioner said Congress may have to intervene in relations between the regulating agencies, but both have a role to work out; until then the burden is on the states. Go to Source Powered by WPeMatico
The Commodity Futures Trading Commission (CFTC) says 20% of its enforcement actions were aimed at the digital assets market in the 2022 fiscal year. Go to Source Powered by WPeMatico
