The CFTC might need help to prevent future collapses like FTX.
November 17, 2022
Officials such as Treasury Secretary Janet Yellen are already calling for greater regulation to prevent another FTX-style crash. YellenAgencies like the SEC and CFTC ensure compliance with regulations by requiring firms to report on their activities regularly, by investigating tips from whistleblowers, and, when all else fails, with enforcement actions that can involve fines, lawsuits or getting a judge to subpoena companies’ records.
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CFTC Has ‘Boots on the Ground’ at FTX Subsidiary LedgerXThe CFTC is monitoring LedgerX 'daily, if not hourly' in the wake of FTX's collapse, Commissioner CFTCJohnson said Thursday. lavender_au reports
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The CFTC could prevent the next FTX with some congressional helpThe Commodity Futures Trading Commission has the power to prevent companies from becoming like FTX in the future. Congress should write that power into law.
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The FTX contagion: Which companies were affected by the FTX collapse?Some of the firms affected include Genesis, Sequoia Capital, Galaxy Digital, and Galois Capital.
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TSM FTX drops FTXFTX had signed a huge sponsorship deal with TSM.
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The Fall of Crypto's Golden Boy - The Journal. - WSJ PodcastsUntil last week, FTX founder Sam Bankman-Fried was the face of crypto. Admirers saw him as an approachable, friendly billionaire eager to deploy his wealth for good. Then his crypto empire imploded, leaving hundreds of thousands of investors’ assets in doubt. WSJ’s Greg Zuckerman profiles the man behind FTX. Further Reading: -How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain -FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall -Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds -FTX’s Collapse Leaves Employees Sick With Anger Further Listening: -How Crypto Giant FTX Suddenly Imploded
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