If you were a regulator, what conclusion would you draw from the ongoing FTX - Binance episode?
“The recent events that have transpired between FTX and Binance are the clearest example yet of why we need clear rules of the road for digital asset exchanges in the United States.”billGiven the evident influence of crypto entrepreneurs in swaying the cryptocurrency prices with just a few tweets, Lummis highlighted:
“Market manipulation, lending activity, and whether customer funds and assets were appropriately safeguarded are just a few of the many issues my colleagues and I need to consider in the coming days.” While SBF chose to remain silent over the last 16 hours at the time of writing, CZ revealed topping Binance’s SAFE insurance fund with cryptocurrencies worth $1 billion to adjust to recent price fluctuations.As a result of the FTX-Binance fiasco, SBF’s personal wealth plummet 94% and ripping off his billionaire status overnight.
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