United States Financial News

23.11 / 12:25

Adoption Congress New York AG pushes prohibition of crypto purchases via retirement funds

The turmoil surrounding crypto exchange FTX and Sam Bankman-Fried (SBF) reaffirmed regulators’ belief about the need for stricter oversight across the crypto ecosystem. Seeking investor protection against a similar fallout, New York Attorney General (NYAG) Letitia James recommended prohibiting crypto investments in defined contribution plans and individual retirement accounts (IRAs).

23.11 / 01:11

ETF Investments SEC Power 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 a role than economics.

22.11 / 04:51

business Funding Bankruptcy Genesis denies 'imminent' plans to file for bankruptcy

Cryptocurrency lending company Genesis has refuted speculation that it is planning an "imminent" bankruptcy filing should it fail to cover a $1 billion shortfall caused by the fall of crypto exchange FTX.

22.11 / 01:05

CFTC regulation Senate hearing committee 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.

21.11 / 20:17

Law SEC My story of telling the SEC ‘I told you so’ on FTX

“I hate to say I told you so” is a phrase oft-repeated but rarely sincere. It’s a delightful feeling to claim credit for warning about a problem in advance. That’s a liberty I’m taking with federal financial regulators at the United States Securities and Exchange Commission.

21.11 / 17:19

Government Blockchain Election tally: Does blockchain beat the ballot box?

In October, Greenland was reported to be exploring the feasibility of an online voting platform for its national elections. Among the options being considered is a blockchain-based system.

21.11 / 13:43

business Government regulation US court Celsius bankruptcy Celsius bankruptcy victims get proof-of-claim deadline from US court

The ongoing case of the Celsius bankruptcy continues as the United States Bankruptcy Court in the southern district of New York State approved a new filing deadline.

21.11 / 01:03

Law Binance Washington DC consequences FTX fiasco means coming consequences for crypto in Washington DC

On Nov. 11, while the rest of the country was celebrating Veteran’s Day, Sam Bankman-Fried announced that FTX — one of the world’s largest cryptocurrency exchanges by volume — had filed for bankruptcy. Lawmakers and pundits quickly latched onto the rapid disintegration of FTX to call for more regulation of the crypto industry. “The most recent news further underscores these concerns [about consumer harm] and highlights why prudent regulation of cryptocurrencies is indeed needed,” said White House Press Secretary Karine Jean-Pierre.

20.11 / 08:45

business SEC legislation American CryptoFed registration at risk as SEC alleges filing anomalies

American CryptoFed DAO, the first decentralized autonomous organization (DAO) to get legal recognition in the United States, is at risk of losing its registration after the U.S. Securities and Exchange Commission (SEC) dug up anomalies in the Form S-1 registration statement dated Sept. 17, 2021.

19.11 / 06:45

business FTX Congress information FTX leadership pressed for information by US subcommittee chairman

The former and current CEOs of the bankrupt FTX cryptocurrency exchange have been pressed by the chair of a United States House subcommittee calling for documents relating to the exchange's finances.

19.11 / 01:59

business Law Fried Sam fall The fall of FTX and Sam Bankman-Fried might be good for crypto

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information,” new FTX CEO John Ray III said in a legal filing on Thursday. “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”

18.11 / 19:43

Blockchain Binance Banks still show interest in digital assets and DeFi amid market chaos

The cryptocurrency sector is the Wild Wild West in comparison to traditional finance, yet a number of banks are showing interest in digital assets and decentralized finance (DeFi). This year in particular has been notable for banks exploring digital assets.

17.11 / 17:19

business Government education Breaking down FTX’s bankruptcy: How it differs from other Chapter 11 cases

Collapsed crypto exchange FTX and 130 affiliates filed for bankruptcy in Delaware on Nov 11. Chaos followed as a number of FTX creditors, investors and industry experts began to question what would happen next.

16.11 / 21:29

regulation FTX Congress Fried Sam Financial Crypto skeptic Brad Sherman: federal financial regulators 'sound like Sam Bankman-Fried'

California Representative Brad Sherman, who repeatedly called for a ban on U.S. residents buying crypto, accused leaders at several financial agencies of parroting former FTX CEO Sam Bankman-Fried’s ideas on regulating digital assets.

16.11 / 19:47

regulation Congress investigation lawmaker hearing 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.”

16.11 / 16:13

regulation investigation FBI Fried Extradition US reportedly considering Bankman-Fried extradition for questioning

In the aftermath of the FTX exchange liquidity crisis and bankruptcy, the United States and Bahamian authorities are reportedly discussing the possibility of extraditing Sam Bankamn-Fried, former CEO of the company, back to the U.S. for questioning.

16.11 / 12:15

Adoption Banks Senate FDIC to prioritize crypto risk assessment as banks perform poorly in Q2

Economic uncertainty amid geopolitical tensions, rising interest rates and slowing economic growth have put a strain on the United States financial system. Reacting to the massive losses reported by the traditional banks in Q2 2022, the Federal Deposit Insurance Corporation (FDIC) decided to prioritize five key policies this year, which include evaluating the risks of crypto assets to the banking system.

16.11 / 02:41

Government Law SEC consequences Will SBF face consequences for mismanaging FTX? Don’t count on it

Will former FTX CEO Sam Bankman-Fried be held accountable for his mismanagement of investor funds?

15.11 / 23:47

Government Insurance Backed Agency FDIC acting chair says no crypto firms or tokens are backed by agency

Federal Deposit Insurance Corporation acting chair Martin Gruenberg said the agency does not back any crypto firms in the United States, nor does its insurance cover losses from tokens.

15.11 / 21:41

CBDC regulation Federal Reserve week NY Fed launches 12-week CBDC pilot program with major banks

The Federal Reserve Bank of New York’s Innovation Center, or NYIC, announced that it would be launching a 12-week proof-of-concept pilot for a central bank digital currency, or CBDC.

15.11 / 16:57

business regulation Bankruptcy creditors FTX bankruptcy filing speculates over 1 million creditors

The FTX liquidation crisis turned bankruptcy saga continues as a recent filing reveals additional information on Sam Bankman-Fried’s leadership and the exchange’s final days.

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