Congress and the SEC couldn’t be bothered to look into the financial shenanigans and warning signs at FTX, as long as CEO Sam Bankman Fried was spreading around 40 million worth of campaign contributions to Democrats in the 2022 election cycle.
Tag: cryptos
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BLOCKCHAIN BATTLES
Though details are still sketchy, it looks like Sam Bankman-Fried (often referred to as SBF) won’t be zooming in to a congressional hearing today to testify about the collapse of the FTX crypto exchange.
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INNOVATION ON NATIVE BITCOIN USE IN DEFI ON THE HORIZON
Bitcoin holders who would like to use their crypto for Defi lending and borrowing, etc., without having to exchange it for stand-in tokens, will likely see more options over the next 12 to 24 months.
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ECB OFFICIAL CALLS FOR COORDINATION OF GLOBAL CRYPTO REGULATION
Cryptocurrency regulations among various countries should be “harmonized…so that gaps don’t occur that are missed by regulators,” Elizabeth McCaul, a member of the European Central Bank’s supervisory board, said in 28 November remarks at the Financial Times Crypto and Digital Assets Summit.
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PROMINENT DIRECTOR OF WELL-CLOAKED CRYPTO FIRM LAMENTS LACK OF TRANSPARENCY
Sheila Bair, who chaired the Federal Deposit Insurance Corporation (FDIC) during 2008’s Great Recession, lamented the crypto industry’s lack of regulation during a 17 November CNBC interview.
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BLOCKCHAIN BATTLES
A few weeks ago, we pointed out that the stablecoin Tether (USDT) exhibited some worrying signs, including a delay on its pledge to fully provide accounting for and revealing its mechanisms and backing for maintaining its “1 to 1” peg to the U.S. dollar.
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THE MADE-FOR-STREAMING FTX WHITEWASH
The fact that Sam Bankman-Fried is still walking free is a sign of just how up to their ears political and financial elites, as well as the MSM, are in the FTX scandal.
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FLATLINING: NO WEB3 INTEREST IN PRIVATE PERMISSIONED BLOCKCHAINS, NEW RESEARCH SAYS
One thing has been clear during the extended crypto downturn and shakeout of projects: private permissioned blockchains are faring worst of all.
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BLOCKCHAIN BATTLES
Some are noting that Tether (USDT), one of the largest crypto “Stable coins,” has not yet come through with a long promised audit of its books and precisely what levels and kinds of backing underlie its token.
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REGULATORS IGNORED FTX AS BIDEN ADMIN CRAFTED CRYPTO REGS
While the Biden Administration touted its “all of government approach” in crafting crypto policy and CBDC plans, its regulators were turning a blind eye regarding monitoring FTX.