WEB3
by BSCN
November 29, 2022
Oregon Senator is the latest regulator to come seeking answers after the collapse of the FTX empire.
U.S. Senator Ron Wyden (D-Ore.) sent written requests to major crypto exchanges asking for contingency plans on how they plan to protect customers amidst financial calamity.
The FTX fallout continues, and regulators in Washington, DC, are zeroing in on other major exchanges. Sen. Wyden, leader of the Senate Finance Committee, directed his requests to Binance, Coinbase, Kraken, and others.
Senator Wyden hopes the exchanges will open their books and reveal industry practices to help fit existing consumer protections over the crypto industry.
"If these protections had been in place before the failure of FTX,” Wyden was quoted as saying in the Washington Post, “far fewer retail investors would be facing precipitous financial harm today.”
Retail is the key word here. I’m sure Wyden is getting calls about lost investments and his constituents – read corporations – want answers.
Wyden's request is just the latest amidst a more assertive approach and heightened radars toward the crypto industry from regulators. Several Congressional committee meetings are planned over the next few weeks. The Senate Agriculture Committee is set to host Rostin Behnam, the chairman of the Commodity Futures Trading Commission, while the House Financial Services Committee has invited disgraced FTX Co-Founder Sam Bankman-Fried to answer questions.
Latest News
5h : 32m ago
Ice Open Network’s Latest Partnerships
6h : 12m ago
JASMY Q1 2025 Update: Cross-Chain Integration and Strategic Partnerships
7h : 41m ago
Top 3 Upcoming Telegram Game TGEs & Airdrops in 2025: PAWS, TapSwap and Blum
9h : 31m ago
Binance Expands Fiat Onramp with Apple Pay and Google Pay
9h : 46m ago
Web3 Jobs in the Philippines: Opportunities and Trends in a Growing Blockchain Hub
11h : 31m ago
Which Projects Got Selected for BNB Chain MVB Season 9
13h : 46m ago
How Low Could Bitcoin Fall Amid Trump’s Tariff Shock?
April 6, 2025
What is TON Network? Deep Dive into the Telegram Powerhouse