FTX bankruptcy and fallout; Tuesday updates and commentary
The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.
-
-
Shark Tank’s Kevin O’Leary says ‘FTX still has value,’ its story still being written
While FTX’s cash crunch has rattled global markets and investors, a White Knight investor could quickly turn the tide for the company, O’Leary told Forkast in an interview.
-
U.S. midterms: gridlock… and progress on crypto industry regulation?
In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.
-
US Treasury says Congress needs to act to mitigate crypto risk to stability
The Financial Stability Oversight Council report says the lack of clear regulations in the cryptocurrency industry could pose a risk to overall U.S. financial stability and urges congress to write up new rules of the road.
-
California governor vetoes bill requiring crypto-related businesses to obtain special license
A bill that proposed a regulatory and licensing framework for crypto companies was rejected by Gov. Gavin Newsom amid a broader national debate concerning the policing of digital assets.
-
Terra chief faces arrest as South Korea ramps up global manhunt
Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.
-
Markets: Cardano, Solana, Dogecoin and Polkadot bear brunt of market slump
The global crypto market cap for cryptocurrency dropped over 7% in Monday evening trade in Asia, nearing US$900 billion. Bitcoin fell to a 24-hour low of US$18,390.32 at 5 pm Hong Kong time, while Cardano led losses within the crypto top 10 by market capitalization, followed by Ethereum. See related article: Markets: Bitcoin back below…
-
Will Ethereum ever surpass Bitcoin? This is “The Flippening”
Many believe Ethereum is destined to overtake Bitcoin’s dominance in an event known as “The Flippening.” Find out if Ethereum’s reign is inevitable in this Forkast explainer.
-
SEC, Ripple take XRP lawsuit battle to media as well
The ongoing battle between the U.S. Securities and Exchange Commission and Ripple Labs over the latter’s token XRP is playing out not just in a courtroom but in media channels as well. See related article: SEC files no objection to Ripple request to seal non-party identities in XRP lawsuit Fast facts Stu Alderoty, general counsel…
-
New US bill to give CFTC oversight of cryptocurrencies may speed up crypto legislation in other markets
The U.S. bill to bring cryptocurrencies under the oversight of the Commodities Futures and Trading Commission is likely to hasten legislation of such digital assets around the world.