The U.S. Senate Banking Committee wants Sam Bankman-Fried to testify on the collapse of his crypto exchange, FTX and linked trading firm, Alameda Research. “As the Founder and CEO of FTX ...
Tag: US Policymaking
Pro-fintech Republican McHenry officially named next House Financial Services chair
Rep. Patrick McHenry, R-N.C., has been named the next chair of the House Financial Services Committee. The House Republican Steering Committee, which determines committee leadership positions, m...
Feds have contacted former FTX employees as part of investigation
Federal law enforcement is in touch with former FTX employees as part of a criminal investigation into the failed exchange and its sister hedge fund Alameda Research. Two former FTX employees h...
House committee weighing subpoena for Sam Bankman-Fried
Senior members of the House Financial Services Committee are weighing a subpoena to compel embattled former FTX CEO Sam Bankman-Fried to testify, though little time remains to enforce one during this ...
Cawthorn violated ethics rules around ‘LGB Coin,’ House Ethics Committee says
The U.S. House of Representatives Ethics Committee has ordered Rep. Madison Cawthorn, R-N.C., to pay more than $15,000 in punitive donations and fines as a result of his violation of congressional and...
Senators want more info on Silvergate’s ‘egregious failure’ on FTX
A bipartisan group of senators want more information from Silvergate Bank, a bank that caters to crypto and fintech clients, about the bank’s current financial wellbeing, while also taking the c...
Gensler to brief House Democrats in run-up to FTX hearing: Exclusive
Democrats of the House Financial Services Committee will hear from Securities and Exchange Commission Chair Gary Gensler in the lead-up to a hearing on FTX next week. Gensler will speak at a Dem...
Silvergate CEO seeks to reassure investors over crypto contagion
Silvergate Bank, which specializes in service to fintech and crypto clients including failed crypto exchange FTX and its sister hedge fund Alameda Research, published a letter from its CEO to reassure...
FTC investigating crypto firms over misleading advertising: Bloomberg
The U.S. Federal Trade Commission is looking into several unnamed crypto firms over allegations of deceptive or misleading advertising, the agency told Boomberg News. A spokesperson for the regu...
House committee leader says Bankman-Fried has ‘sufficient’ knowledge for testimony
Rep. Maxine Waters, D-Calif., is not buying Sam Bankman-Fried’s excuse for not testifying next week about the collapse of the FTX crypto exchange at a hearing before the House Financial Services...
Crypto lender Nexo says it’s leaving the U.S., cites regulatory ‘dead end’
Facing a phalanx of regulators, cryptocurrency lending platform Nexo says it is “phasing out” the U.S. side of its operations. In a statement announcing a “gradual” depa...
Court orders crypto fraudster ‘Coin Signals’ to pay $2.8 million after CFTC suit
The U. S. District Court for the Southern District of New York ordered a crypto fraudster “Coin Signals” to pay $2.8 million in restitution to victims of a fraudulent scheme. The ord...
CFTC Chair Behnam walks fine line during Congress’ first FTX hearing
After crypto exchange behemoth FTX imploded in a matter of days, the chair of the Commodities Futures Trading Commission walked a fine line in continuing his call for the same legislation Sam Bankman-...
FTX’s collapse is ‘a Lehman moment’ for crypto: Yellen
Treasury Secretary Janet Yellen called FTX’s collapse “a Lehman moment” for the digital asset industry. “It’s a Lehman moment within crypto, and crypto is big enough that you’ve had substantial ...
Senior Senate Democrat wants crypto exchange info after FTX collapse
Senate Finance Committee Chair Ron Wyden, D-Ore., wants information on how large crypto exchanges conduct business, including whether they use customer funds for undisclosed purposes, following the co...
Lummis casts doubt on Bankman-Fried-backed bill, plugs own solutions
In light of the FTX collapse, Sen. Cynthia Lummis, R-Wyo., sees a brighter future for her signature crypto legislation in the next congressional session. While noting that little action in Congr...
House lawmakers set first FTX hearing for Dec. 13
House lawmakers will begin their investigation into the collapse of crypto exchange FTX, and its broader impact on the digital asset industry, at a hearing scheduled next month. The House Financ...
CFTC chair defends bill that FTX’s Bankman-Fried also backed
Commodity Futures Trading Commission Chairman Rostin Behnam defended legislation backed by both himself and former FTX CEO Sam Bankman-Fried, arguing on Monday that if his agency gains authority over ...
Bankruptcy experts weigh in on next steps for FTX
Episode 118 of Season 4 of The Scoop was recorded live with The Block’s Frank Chaparro, Dan Besikof, a Partner at Loeb & Loeb, and Mark Shapiro, a Partner at Shearman & Sterling. L...
SEC facing rising scrutiny after FTX’s epic implosion
After the high-profile implosion of FTX, crypto skeptics and digital currency advocates have both asked the question: Could the Securities and Exchange Commission have done more? Expect to hear ...
Lawmakers weigh what to do with Sam Bankman-Fried’s political cash after FTX’s collapse
FTX executives made a splash during the 2022 midterm cycle, spending millions on political donations and funding for their super PACs But after the exchange filed for bankruptcy protection, som...
Three U.S. senators ask Fidelity to reconsider bitcoin exposure in retirement plans
Three U.S. senators have again asked Fidelity Investments to reconsider a decision to allow retirement plan participants to invest in bitcoin, saying the industry has become increasingly “volati...
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...
Senators Warren, Durbin call on Bankman-Fried for info on FTX’s historical balance sheets
Key Senate Democrats are joining the calls for more disclosure of the historical finances of bankrupt crypto exchange FTX and the cluster of firms that had ties to it and founder Sam Bankman-Fried. &...
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...
Republicans win control of House of Representatives
Republicans are poised to take control of the House of Representatives next year, a shift that could have a major impact on the crypto industry as regulators and lawmakers seek to establish new rules ...
Congress wants SBF to come to Washington — one more time
Members of Congress want to hear from Sam Bankman-Fried and other crypto executives about FTX’s sudden and complete collapse, including the impact it’s had on customers and the entire digital asset ec...
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...
Yellen calls for ‘more effective oversight’ of crypto markets
The collapse of crypto exchange FTX is proof digital asset markets need more effective oversight, according to U.S. Treasury Secretary Janet Yellen. “Further interconnections of the traditiona...
Binance role in FTX collapse under congressional scrutiny
Binance’s role in the sudden collapse of FTX, an event that sent reverberations around crypto markets, has come under congressional scrutiny, a senior House Republican confirmed to The Block. “T...