Tagged: elizabeth warren

Digital Asset Experts School Senators on Silvergate Debacle: Not Due to Crypto

Like the day is followed by night, we can count on politicians piling on a debacle when they can craft a sound bite that fits their desired narrative. As was reported yesterday, Silvergate Capital Corporation (NYSE:SI) has decided to wind down its operations following the collapse… Read More

Democrat Senators Demand Answers from Binance, Tell CZ to Provide Documentation by Next Week

Senators Elizabeth  Warren, Chris Van Hollen, and Roger Marshall have joined in sending a letter to Changpeng “CZ” Zhou, demanding information pertaining to the operations of Binance, the crypto exchange he founded. The three Senators request that CZ provide “information regarding growing concerns over the finances,… Read More

Zelle Has Issues, Points Finger at Bank of America

Zelle, a payments and transfers service that was created by multiple big banks, has been having some issues today, according to multiple posts on Twitter. While Zelle has not issued a press statement reassuring users it is on top of things, it appears that Zelle… Read More

Group of US Senators Send Letter to FTX Bankruptcy Judge Inquiring About Sullivan & Cromwell Law Firm Involvement

A filing submitted yesterday to the bankruptcy court handling FTX has questioned the involvement of Sullivan & Cromwell as the bankruptcy counsel. The document claims that: “Sullivan & Cromwell is not only an inappropriate candidate for appointment as the FTX Group’s bankruptcy counsel—it is a… Read More

Senators Warren, Smith Send Letters to US Federal Reserve Chair, FDIC Acting Chair, Demanding Information on Banking Industry and Ties to Crypto

The aftershocks of FTX’s bankruptcy will be felt for many months. The collapse of the crypto exchange and the potential loss of billions in value has fueled demands for regulatory oversight on Capitol Hill with renewed vigor. Earlier this week, Senator Elizabeth Warren and Senator… Read More

US Senators Send Letter to Silvergate CEO Demanding Answers on FTX Collapse, Alameda Involvement

This past Mondy, Silvergate (NYSE:SI) CEO Alan Lane took the extraordinary measure of posting a public letter defending his bank’s handling of the accounts of now bankrupt FTX and affiliated hedge fund Alameda Research. Silvergate is a regulated bank that has been a leader in working… Read More

Senator Elizabeth Warren Says Crypto Will Destroy the Economy

Senator Elizabeth Warren, a member of the Senate Banking Committee and a longtime crypto-skeptic, has published an Op-Ed on WSJ.com, slamming the crypto industry and warning that crypto is poised to destroy the economy. The opinion follows a series of prominent crypto platform failures topped… Read More

Senator Elizabeth Warren, AOC, Others Send Letters to Financial Officials Demanding They Shut the Revolving Door Between Crypto Firms and their Agencies

Multiple Democrat elected officials are slamming public financial agency leaders in a public letter criticizing the “revolving door” of public officials going over to crypto firms. The letter is signed by Senators Elizabeth Warren and Sheldon Whitehouse, along with Representatives Alexandria Ocasio-Cortez (AOC), Rashida Tlaib,… Read More

Senator Elizabeth Warren Challenges Administrations Posture on Digital Assets: They Threaten Overall Economic Stability

Senator Elizabeth Warren, a Democrat that sits on the Senate Banking Committee, is not convinced about the Biden Administration’s approach to digital assets. In a letter addressed to Janet Yellen, the Secretary of the US Department of Treasury, Senator Warren claims “cryptocurrency poses grave risks to… Read More

Democrat Senators Worry about Crypto Scams on Meta (Facebook)

Yesterday, several US Senators, all Democrats, issued a statement regarding concerns of crypto scams proliferating on Meta (Facebook) (NASDAQ:META). A letter signed by these Senators was sent to Meta CEO Mark Zuckerberg. Signed by, Senators Bob Mendez, Sherrod Brown, Elizabeth Warren, Diane Feinstein, Bernie Sanders… Read More

Two US Senators Question Fidelity’s Move to Allow Bitcoin in 401Ks

Senator Elizabeth Warren and Senator Tina Smith have sent a letter to Abigail Johnson, CEO of Fidelity Investments, taking her to task for allowing investors to include Bitcoin in their retirement accounts. Late last month, Fidelity announced the move claiming its workplace Digital Assets Account… Read More

Senator Elizabeth Warren Introduces Bill to Crack Down on Russians Using Crypto to Evade Sanctions

Yesterday, Senator Elizabeth Warren, along with several other Democrat Senators, introduced legislation that is designed to crack down on Russian “Elites” or oligarchs, who may utilize crypto to evade the economic sanctions that have been applied by many countries around the world. The Digital Asset… Read More

Binance States that it Follows Rules on Sanctions Against Russia: Crypto is “too traceable”

There has been a fair amount of discussion regarding Russia using crypto to evade sanctions. First, crypto as a market is simply too small to be an effective tool for the Russian government to utilize it to mitigate the full impact of the economic blockade…. Read More

Here is the Letter Senate and House Democrats Sent to Crypto Mining Firms

Last week, several Senate and House Democrats sent a letter to established crypto miners.  The letter queried miners on the negative impact on the climate due to high energy usage caused by mining crypto, like Bitcoin. The letter was signed by Senators Elizabeth Warren, Sheldon… Read More

Senate Banking Committee Hearing on Stablecoins. What Did We Learn?

Following the House Financial Services Committee hearing on cryptocurrency last week, the Senate Banking Committee held a related hearing to discuss the stablecoin market. Entitled Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?, the Senate Banking Committee had a single… Read More

Senate Democrats Tell CFPB to “Take Action” Regarding BNPL

Buy now, pay later, services may be receiving more scrutiny if several Senate Democrats have their way. Yesterday, Senators Jack Reed, Sherrod Brown, Elizabeth Warren, Chris Van Hollen, Tina Smith, and Jon Ossoff, sent a letter to the Consumer Financial Protection Bureau (CFPB) urging Director… Read More

Jerome Powell Re-Nominated as Chair of Federal Reserve

Jerome Powell has been renominated by President Joe Biden to continue on as the Chairman of the Federal Reserve. Dr. Lael Brainard was selected to serve as Vice-Chair of the Board of Governors of the Federal Reserve System. In recent days there has been much… Read More

Senate Hearing for Saule Omarova as Comptroller of the Currency Shows Challenging Path to Approval

  Saule Omarova testified in front of the Senate Banking Committee today and the challenging questions did not just come from Republican members as several Democrats queried the aspiring bank regulator with difficult queries as well. Omarova, a Cornell Law professor born in the former… Read More

SEC Chairman Gensler Grilled by Republicans on Senate Banking Committee, Ranking Member Toomey Supports Regulatory Clarity for Crypto

SEC Chairman Gary Gensler marched up to Capitol Hill yesterday to testify in front of the Senate Banking Committee in a hearing entitled “Oversight of the U.S. Securities and Exchange Commission”.  Gensler outlined his ambitions at the SEC in his prepared remarks. While Gensler received… Read More

Uniswap Under Investigation by the SEC: Report [u]

Uniswap is under investigation by the US Securities and Exchange Commission (SEC), according to a report by Reuters. Uniswap is a DeFi leader and is said to be the largest decentralized digital asset exchange in operation. The Uniswap protocol facilitates crypto trading by utilizing smart… Read More

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