US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse

Ron Wyden, chair for the United States Senate Finance Committee, has requested information from six crypto firms on consumer protection following FTX’s liquidity issues and bankruptcy.In separate letters dated on Nov. 28, Wyden targeted Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin,…

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Ukraine-based blockchain firm blasts ‘fake news’ for crypto donation rumors amid FTX collapse

A blockchain firm that partnered with the Ukrainian government to launch a donation website amid the country’s war with Russia has pushed back against online rumors and conspiracy theories that its platform was used for politically motivated money laundering. Ukrainian government…

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US lawmakers ask DOJ hold FTX execs accountable ‘to the fullest extent of the law’

Two Democratic members of the United States Senate have called on the Justice Department to investigate the collapse of FTX and potentially prosecute individuals involved in wrongdoing.In a Nov. 23 letter to U.S. Attorney General Merrick Garland and Assistant Attorney General…

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Sam Bankman-Fried says he is ‘deeply sorry’ for collapse in letter to FTX team

Former FTX CEO Sam Bankman-Fried, also known as SBF, has reiterated apologies to the exchange’s employees in a letter explaining the collapse. In a Nov. 22 letter reviewed by Cointelegraph, Bankman-Fried breaks down the reasons behind FTX’s liquidity crisis and subsequent bankruptcy…

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Approving a spot crypto ETF is ‘all about political power’ — Perianne Boring

Perianne Boring, founder and CEO of blockchain advocacy group Chamber of Digital Commerce, placed the lack of approval of a Bitcoin exchange-traded fund in the United States squarely on Securities and Exchange Commission chair Gary Gensler, suggesting politics played more of…

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Shiba Inu developer says WEF wants to work with project to ‘help shape’ metaverse global policy

The volunteer project lead and developer for Shiba Inu known only as ‘Shytoshi Kusama’ has reported on social media that the World Economic Forum, or WEF, wants to work with the meme-based cryptocurrency on global policy.In a poll posted to Twitter…

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US Senate committee schedules FTX hearing for Dec. 1, CFTC head to testify

The United States Senate Agriculture Committee has announced that Commodity Futures Trading Commission, or CFTC, chair Rostin Behnam will be one of the witnesses in a hearing exploring the collapse of crypto exchange FTX.According to the Senate Agriculture Committee website, on…

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Sam Bankman-Fried updates investors: ‘We got overconfident and careless,’ claims $13B leverage

Former FTX CEO Sam Bankman-Fried said he was “wrong” in his estimates of the crypto exchange’s leverage prior to its collapse, claiming it wasn’t $5 billion but closer to $13 billion.In a Nov. 16 Twitter thread, Bankman-Fried said leverage at FTX…

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Crypto skeptic Brad Sherman: Federal financial regulators ‘sound like Sam Bankman-Fried’

California Representative Brad Sherman, who repeatedly called for a ban on United State residents buying crypto, accused leaders at several financial agencies of parroting former FTX CEO Sam Bankman-Fried’s ideas on regulating digital assets.In a Nov. 16 hearing before the House…

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FTX collapse was a ‘dumpster fire,’ says US lawmaker announcing investigative hearing

Members of the United States House Financial Services Committee have scheduled a December hearing aimed at exploring the collapse of crypto exchange FTX and “broader consequences for the digital asset ecosystem.”In a Nov. 16 announcement, the House committee said it expected…

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Bahamas supreme court approves ‘provisional liquidators’ for FTX

The Supreme Court of the Bahamas — where FTX Digital Marketsis headquartered — has approved two provisional liquidators to oversee the crypto exchange’s assets.According to a Nov. 14 announcement from the Bahamas' Securities Commission, the country’s supreme court approved the appointments…

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South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperate: Report

Authorities in South Korea have reportedly requested Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, to appear as part of an investigation into the collapse of the firm.According to a Nov. 14 report from Hankyoreh, the Seoul Southern District…

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CySEC requested FTX’s European arm suspend operations prior to bankruptcy: Report

The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting the exchange halt operations for its Europe arm.According to a Nov. 11 Reuters report, the CySEC…

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White House says ‘prudent regulation of cryptocurrencies‘ is needed, hinting at situation with FTX

The White House said the administration of United States President Joseph Biden is monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions.In a Nov. 10 press briefing, White House Press Secretary…

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