Latest News
By Commerce Newswire Report | Feb 7, 2023
U.S. Sen. Tim Scott, a ranking member on the Senate Committee on Banking, Housing and Urban Affairs, said that working to develop a framework for the regulation of digital assets is one of his top priorities for this Congressional session.
By Commerce Newswire Report | Feb 6, 2023
Binance, the world's largest crypto exchange, announced that it would delist the token BEAM.
By Commerce Newswire Report | Feb 3, 2023
Michael Novogratz, CEO of crypto investment firm Galaxy, predicted in a YouTube video that members of Congress will grill Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), over perceived failures of the agency to take actions that might have prevented crypto companies such as the now-bankrupt exchange FTX from misusing customer funds. Novogratz noted that he sees some Republican members of Congress as very pro-crypto, including Rep. Patrick McHenry (NC-10), chairman of the House Financial Services Committee, and Rep. Tom Emmer (MN-06). Novogratz said he thinks large donations from the now-disgraced founder of FTX Sam Bankman-Fried have made Democrat lawmakers more hesitant to endorse the crypto industry, although Bankman-Fried donated to both sides of the aisle.
By Commerce Newswire Report | Feb 1, 2023
Hester M. Peirce, commissioner of the U.S. Securities and Exchange Commission (SEC), recently gave a presentation at Duke University's Digital Assets conference.
By Commerce Newswire Report | Jan 30, 2023
The collapse of crypto exchange FTX in November has sparked discussions over what regulating the digital asset landscape could or should look like. The SEC is stepping up its efforts to police the crypto sector, with Chairman Gary Gensler recently announcing tens of millions in fines penalizing Nexo for failing to properly register its crypto asset lending product. Many prominent figures in the crypto industry are voicing their opinions on what regulation should look like moving forward, such as Andre Cronje, co-founder of Fantom Foundation, who believes that regulating the crypto industry as a whole is "infeasible," but instead regulatory focus should be on licensing for entities that issue or manage cryptocurrencies.
By DOJ Newswire Report | Jan 23, 2023
John Ray III, who has taken over as CEO and chief restructuring officer of FTX, said that FTX leaders and advisors have met with the Official Committee of Unsecured Creditors (UCC) as part of FTX's ongoing bankruptcy proceedings and determined that FTX has approximately $5.5 billion in liquid assets, meaning there is a "substantial shortfall" of assets at both FTX U.S. and FTX International.
By State Newswire Report | Jan 19, 2023
Helen Hai, the head of Binance Charity, the philanthropic arm of crypto exchange Binance, recently said that the charity has partnered with international NGOs to launch a crypto-to-cash assistance program, enabling refugees that have been displaced because of the war in Ukraine to be able to spend money received through donations without having to pay bank transfer fees or navigate bank shutdowns. The program has enabled thousands of refugees to access emergency financial aid by using the first-of-its-kind Binance Refugee Card.
By DOJ Newswire Report | Jan 17, 2023
A U.S. Trustee with the Department of Justice (DOJ) has filed an objection to Sullivan & Cromwell working as lead counsel for FTX in bankruptcy proceedings. Sam Bankman-Fried, the former CEO of crypto exchange FTX, wrote in a Substack post that he sees Sullivan & Cromwell's current work for FTX as a potential conflict of interest, given the law firm's previous work for FTX. A bipartisan group of U.S. senators recently expressed the same concern.
By Commerce Newswire Report | Jan 12, 2023
Alan Lane, the CEO of Silvergate, the parent company of Silvergate Bank, which provides financial solutions to businesses in fintech and cryptocurrency, said in a statement the company has taken steps in response to lower deposit levels and shaken industry confidence in the fourth quarter of 2022, aiming to remain liquid by reducing the company's headcount and selling debt securities.
By Sam Jackson | Jan 11, 2023
Brian Armstrong, co-founder and CEO of crypto trading platform Coinbase, said in a blog post on Tuesday that in response to both macroeconomic factors and the fallout from the collapse of FTX, the company will lay off about 950 employees.
By DOJ Newswire Report | Jan 9, 2023
Sheila Warren, CEO of the Crypto Council for Innovation, an organization of crypto industry leaders, said that the collapse of FTX has prompted some to call for more regulation of the crypto industry.
By DOJ Newswire Report | Dec 14, 2022
A spokesperson for Binance, the largest cryptocurrency exchange by trading volume in the world, said Binance has a highly skilled financial crimes team comprised of former members of international law enforcement agencies that works to protect legitimate Binance users.
By Commerce Newswire Report | Dec 14, 2022
Political figures and members of the cryptocurrency community are questioning the credibility of Kevin O’Leary’s Congressional testimony, pointing to a multimillion dollar agreement between O’Leary and crypto exchange platform FTX last year that made O’Leary an FTX spokesperson.
By Press release submission | Oct 9, 2022
Chairman Krishnamoorthi Statement on Government Reports Detailing Increased Risks of Crypto Scams and Fraud
By Press release submission | May 4, 2022
One week since its introduction, the Digital Commodity Exchange Act has received a number of statements of support from crypto leaders.
