According to a US lawmaker , the FTX collapse is not a failure of crypto – it is a failure of SEC, bankman-fried, centralized finance.
This statement is from American Congressman Tom Emmer. “We need to get to the bottom of this and understand why Gary Gensler and the SEC are not doing their job,” he said. Emmer says the explosion of cryptocurrency FTX is not due to the unavailability of crypto.
The Dubai Multi Commodities Center will issue gold-backed tokens using the Xinfin blockchain protocol.
The Dubai Multi Commodities Center announced a new strategy with firm Comtec Gold to digitize gold trading, saying the tokenized precious metals are validated by DMCC Tradeflow-registered gold bars, and that the tokenized gold bars “will be backed by Tradeflow warrants.” The CEO said that recent market events have brought attention to the need for transparency and crypto tokens powered by real-world assets.
MEXC Global Vice President Andrew Weiner calls for futures trading.
President Andrew Weiner has worked with Thomson Reuters, ComplyAdvantage, IBM, Mastercard, Deloitte, and KPMG to provide solutions to virtual assets service providers in more than 170 countries. It is a cryptocurrency trading platform that provides one-stop cryptocurrency services for Spot, ETFs, Futures, Staking, NFT Indices among others and serves over 10 million users. In October 2021, it was named the “Best Cryptocurrency Exchange in Asia”. ” and now supports more than 1,700 cryptocurrency trading and trading platform with a rapid launch speed for new projects that has worked with Thomson Reuters, ComplyAdvantage, IBM, Mastercard, Deloitte, and KPMG brands and more than 170 Providing innovative solutions to Virtual Asset Service Providers in more countries.
Bankruptcy attorneys contend that FTX was operated by ‘inexperienced individuals’.
FTX attorneys James Bromley and Sullivan Cromwell said that FTX’s financial records do not appear to be looking good. Substantial amounts of assets have been stolen and bankruptcy is further exacerbated that FTX executives leave lawyers James Bromley and Sullivan Cromwell with little information.
NYC mayor insists crypto is an industry ‘that must be embraced’.
Eric Adams isn’t discouraged by the collapse of FTX and the selloff, saying that whether we like it or not, cryptocurrencies are primed to move into this space. He said that he believes in technology and believes in using crypto, blockchain. It’s growing in popularity and it’s an industry we should embrace, he added, further leaning into blockchain and other technologies.
