US Senators are closely relooking into the FTX and Alameda case to properly regulate the web3, stablecoins, and digital assets industry.
The US Congress has admitted that no one single agency can fully regulate the cryptocurrency industry.
The implosion of FTX and Alameda Research has time and again been described as the worst failure in modern American corporate industry. Despite the cryptocurrency market cap having almost tripled since the event, regulators are keen to prevent a similar incident in the promising web3 and digital asset industry.
As Crypto News Flash previously reported, former FTX boss Sam Bankman-Fried alias SBF is fighting to negate the 25-year imprisonment, which provided a cold relief to the distressed investors. Furthermore, millions of FTX users are yet to understand if they will ever be fully compensated for the losses incurred.
US Senators Question CFTC Chair Rostin Behnam on FTX Collapse
Most of the United States Senators, apart from Elizabeth Warren, have r
