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FTX was the "fastest" company collapse in American history, says U.S. Trustee.
The US Trustee overseeing FTX's bankruptcy proceedings has requested an independent investigation into its demise. In a Dec. 1 motion, U.S. Trustee called the defunct exchange the "fastest large business collapse in American history". An independent examiner has been requested by the Department of Justice. Independent examiners are usually called in when creditors want them or when unsecured debts surpass $5 million. Trustee Andrew Vara said debtors "suffered an almost unparalleled fall in value" over eight days in November. The U.S. Attorney's Office for the Southern District of New York and Securities and Exchange Commission have allegedly submitted many requests to investors.
49% of Americans are Aware of NFTs: Pew Research Center
Nearly half of Americans have shown awareness of non-fungible tokens (NFTs), according to a survey by Washington-based think tank Pew Research Center.
US House Committee Chairman Seeks Insights into Crypto Retirement Plans
Bitcoin is increasingly becoming a larger part of many institutional portfolios, including pension funds. A number of public pension funds, which have been investing in private equities to increase their investment yields, are now investing in cryptocurrencies.
FBI Says Cyber Criminals Dealing With Crypto are Rapidly Upgrading
The United States Federal Bureau of Investigation (FBI) says that law enforcement can barely keep up with the advancements of criminal activities in the cryptocurrency sector.
Bank of America Predicts U.S. CBDC Rollout between 2025 and 2030
The Bank of America Corp. said that the US is likely to issue its own digital currency between 2025 and 2030, Bloomberg reported.
Biden's Administration to Release Crypto Strategy on Digital Assets Next Month
US President Joe Biden's administration is working on an initial government-wide strategy on digital assets for release next month.
Ex-SEC Chair Jay Clayton Says He's a "Huge Believer" in Crypto
Ex-Chairman of the US Securities and Exchange Commission Jay Clayton expressed his trust in the nascent digital currency world saying he is a “huge believer” in the technology underpinning the industry.
Brad Garlinghouse Predicts Ripple-SEC Feud to End by 2022
The ongoing court case between the United States Securities and Exchange Commission and blockchain payments firm Ripple Labs Inc is likely to close next year, drawing on the optimism of the firm’s CEO, Brad Garlinghouse.
Wyoming State Says Cryptocurrency Represents Property, Allows Insurers to Include Digital Assets in Investment Portfolios
The US. state of Wyoming has enacted new legislation to allow insurance firms to invest in digital assets like cryptocurrencies. The new law intends to come into effect on 1st July.