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Under the proposed bill, companies could apply for an “enforceable compliance agreement” with offices at federal financial agencies that would allow for a regulatory path forward. Go to Source Powered by WPeMatico
The Texas Congressman urged lawmakers to examine the SEC’s efforts to prevent fraud at the crypto exchange. Go to Source Powered by WPeMatico
According to the FSOC, issues at FTX had “precipitated price decreases in Bitcoin and other crypto-assets” but “had a limited impact on the broader U.S. financial system.” Go to Source Powered by WPeMatico
“Short of enacting draconian authoritarian policies, cryptocurrency cannot be stopped,” said Senator Pat T Go to Source Powered by WPeMatico
While Congressman Brad Sherman saw SBF as the poster child of the crypto ecosystem, congressman Tom Emmer highlighted the crypto community’s contribution to uncovering the supposed FTX fraud. Go to Source Powered by WPeMatico
Some members of the U.S. House of Representatives questioned whether Sam Bankman-Fried’s actions at FTX and Alameda may have been willful or due to gross incompetence. Go to Source Powered by WPeMatico
SBF blamed the current CEO, his legal counsel, the law firm he appointed for bankruptcy, and Binance CEO CZ, without admitting any wrong on his part. Go to Source Powered by WPeMatico
SBF’s last tweet before his arrest for reportedly committing wire fraud was dispelling his involvement in a group chat purportedly called “Wirefraud.” Go to Source Powered by WPeMatico
Countering some of SBF’s claims, John Ray said that “FTX US was not operated independently of FTX.com” and a Chapter 11 filing was necessary to avoid a bank run. Go to Source Powered by WPeMatico
Sam Bankman-Fried is willing to testify before the Financial Services Committee of the U.S. House of Representatives on Dec. 13. Go to Source Powered by WPeMatico
