Former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair likens the fall of crypto exchange FTX and its former CEO Sam Bankman-Fried to the infamous Ponzi Scheme of Bernie Madoff. “It fel...
Tag: Regulation
FTX Collapse: Bankman-Fried and His Ties to Democrats
Former cryptocurrency billionaire Sam Bankman-Fried sought to court the favor of Democrats during the 2022 midterm election cycle by making massive donations. His political action committee gave over ...
FTX collapse could trigger ‘appetite’ for harsher regulation, says Andrew Yang
Calls for harsher regulations around cryptocurrencies and digital assets will likely grow louder in the aftermath of FTX’s collapse — something former United States presidential candidate Andrew Yang ...
CFTC Commissioner Mersinger says the time has come for action on crypto regulation
United States Commodity Futures Trading Commission (CFTC) commissioner Summer Mersinger suggested that the time to act on cryptocurrency regulation may have arrived. Speaking at the Texas Blockchain S...
Amendments to Russia’s Digital Asset Law Aim to Allow Mining, Ban Crypto Exchange and Ads – Regulation Bitcoin News
Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legisl...
Mersinger feels crypto regulation is needed
Summer Mersinger, a commissioner of the United States Commodity Futures Trading Commission (CFTC), expressed her belief that the time may have come to take action on the regulation of cryptocurrencies...
Ontario Teachers’ Pension Plan is latest FTX investor to mark venture investment to zero
It’s relatively rare for an institutional investor to make a public statement about a loss on a venture-capital investment, but nothing about FTX International’s $32 billion blow-up and bankruptcy is ...
The Block: Binance had ‘at minimum ill-intent’ in revoked FTX proposal: Sen. Ted Cruz
Sen. Ted Cruz said that Binance showed “at minimum ill intent” regarding the offer it made and quickly took back to buy FTX last week. Noting the speed of Binance’s public offe...
SEC moves to suspend sale of American CryptoFed DAO tokens
The Securities and Exchange Commission has started administrative proceedings against American CryptoFed, a Wyoming-based decentralized autonomous organization (DAO), to weigh a stop order to suspend ...
Fallen FTX Founder Bankman-Fried Gives Regulators the Middle Finger
Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, can not hide his disgust at financial regulators. The 30-year old former billionaire borrowed a whopping $1 billion from one of his b...
Bankman-Fried Received $1Bn in Personal Loan from His Company
Sam Bankman-Fried, the founder of the FTX exchange and Alameda Research, a cryptocurrency trading platform, seemed to confuse his bank and his companies. According to John Ray, the new CEO in charge o...
KuCoin CEO Johnny Lyu confirms exchange ‘fully liquid,’ talks regulation and the future of DeFi – SlateCast #31
Speaking with CryptoSlate’s Akiba on the latest episode of the SlateCast, Johnny Lyu, the CEO of KuCoin, stated that the collapse of FTX was a “huge blow to the entire industry” but that. “Institution...
Trump Organization CFO Weisselberg chokes up on witness stand, claims his ‘personal greed’ drove $1.7 million tax-avoidance scheme
NEW YORK (AP) — Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid pe...
Aussie treasurer promises crypto regulation next year amid FTX debacle
The Australian government has doubled down on its commitment towards a robust regulatory framework for crypto following the catastrophic collapse of FTX last week. A spokesperson for Australian Treasu...
Black Friday surprise: Jeff Bezos tells people not to buy cars, refrigerators and other big-ticket items. Critics call him out.
Billionaire Jeff Bezos, who founded the e-tail behemoth Amazon, has some spending tips as Americans gear up for the holiday shopping season — amid four-decade-high inflation and recession worries. Her...
JPMorgan Chase, Wells Fargo among potentially exposed FTX parties
FTX has named Kroll Restructuring Administration as its agent as it navigates the federal bankruptcy process and cited dozens of companies and people affected by its collapse, a petition filed by the...
Congress’s Failure to Pass Regulation Caused FTX’s Debacle, Asserts Crypto-Friendly Senator ⋆ ZyCrypto
Advertisement     US Senator Pat Toomey has blamed FTX’s collapse on the lack of clear regulations. Speaking during the Financial Regulators Hearing on November 15, th...
CFTC Commissioner Johnson defends agency approach to FTX, crypto
Kristin Johnson, a commissioner at the Commodities Futures Trading Commission, defended the agency’s approach to digital asset regulation in the wake of FTX’s collapse, saying the agency l...
New York’s financial watchdog calls for better crypto regulation – crypto.news
The head of the New York Department of Financial Services emphasized that federal law should be modeled after the rigorous requirements in her state. In the wake of the FTX collapse, the superintenden...
Justice Department advises crypto lawyers not tip off clients about investigations
The Department of Justice doesn’t want lawyers tipping off their clients about investigations, a representative cautioned. “We recommend that the private sector, when we are dealing with DeFi or...
EU’s MiCA regulation would have had limited impact on FTX debacle, lawmaker says
EU lawmakers differ in their view on how the bloc’s upcoming crypto regulation would have cushioned the blow from FTX’s collapse. The effects of FTX’s filing for bankruptcy pro...
SEC Enforcement Remains Focused on Crypto — Chair Gensler Says He’s ‘Impressed’ With Enforcement Results – Regulation Bitcoin News
The U.S. Securities and Exchange Commission (SEC) says its Enforcement Division “remains focused on the rapidly evolving crypto asset securities space.” The securities regulator filed 760 enforcement ...
Former Comptroller Otting joins Blockchain.com board
Blockchain.com is adding a banking expert to its board of directors, Joseph Otting, the former U.S. Comptroller of the Currency, the company said in a blog post. “I’m honored to join the board o...
Sunrun and Other Solar Stocks With Strong U.S. Presence Are a Buy, Analyst Says
An analyst from Deutsche Bank is bullish on Enphase Energy Sunrun and First Solar due to their strong domestic presence amid new U.S. legislation. Deutsche Bank analyst Corinne Blanchard initiated cov...
NY regulator warns against Congress overriding state crypto regimes
New York’s head financial services regulator wants Congress to look at her state’s rules around crypto when thinking about a national model and warned against federal laws overriding state...
Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation – Regulation Bitcoin News
U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chair Lael Brainard have stressed the need for strong crypto regulation. Yellen said the FTX collapse shows “the weaknesses” of the entire...
Ripple and Binance seek UK regulatory licenses, lawmakers are told
Ripple and Binance have asked to be licensed by the Financial Conduct Authority, UK lawmakers were told on Monday. Binance, the world’s largest crypto exchange by trading volume, is in tal...
SEC enforcements and remedies reached $6.4 billion last year
The Securities and Exchange Commission announced that penalties, as well as remedies to investors affected by criminal or civil wrongdoing, reached a total of $6.4 billion during the last federal fisc...
Congressman Brad Sherman Takes Aim at ‘Billionaire Crypto Bros’ for Slowing Regulation
U.S. Congressman Brad Sherman has hit out at the crypto industry in the wake of the FTX collapse, pointing the finger at “billionaire crypto bros” for attempting to delay “meaningful legislation” from...
What’s Stopping Companies from Pulling Supply Chains Out of China
Text size Despite the trade war and Covid-19 lockdowns, China accounts for 35% of total U.S. containerized imports. Mario Tama/Getty Images About the authors: Christopher S. Tang is a University Disti...