US senators intensify push for crypto bill following FTX collapse
U.S. Senators Debbie Stabenow and John Boozman have increased their effort toward the crypto bill with recent happenings surrounding the downfall of FTX exchange. In the wake of FTX’s unexpected collapse, two U.S. Senators Debbie Stabenow and John Boozman have redoubled their efforts to publish a final version of the Digital Commodities Consumer Protection Act […]
California financial regulators to investigate FTX exchange
Definitely, not a good time for FTX crypto exchange as the California Department of Financial Protection and Innovation (DFPI) joins other financial regulators to launch an investigation into the “apparent failure” of the exchange. According to California regulators, the DFPI takes this supervisory duty “extremely seriously” and requires all organizations providing financial services in the […]
BlockFi restricts platform activity, stopping customer withdrawals
Following the collapse of FTX, cryptocurrency lender BlockFi has stopped client withdrawals on its platform as part of a broader restriction on platform activity. BlockFi claimed in a tweet on Nov. 11 that it was unable to conduct business as usual due to “a lack of clarification on the status of FTX.com, FTX US, and […]
Market volatility and redemptions destabilize major stablecoins
Almost all significant stablecoins lost their dollar pegs after the FTX scandal, but most have gained them again as markets have stabilized. Stablecoins have been affected by this week’s significant market volatility, which was brought on by the failure of the FTX exchange, with many of them momentarily de-pegging. The fall in cryptocurrency prices this […]
Tether CTO affirms there are no intentions to save FTX
Tether has indicated that it has no plans to invest cash into FTX, despite the CEO allegedly approaching many companies for assistance. On November 10, Tether CTO, Paolo Ardoino, affirmed the company has “no plans to invest or lend money to FTX/Alameda.” As it struggles to close a purported multi-billion dollar hole in its financial […]