Bankman-Fried-backed bill to feature in Congress' first FTX hearing

Dec 01,2022
KingData News: The regulatory legislation supported by embattled former FTX CEO Sam Bankman-Fried will be back in the spotlight during the first congressional hearing on FTX’s collapse. Though the Senate bill’s authors have pledged to push forward on the bill, to create guardrails for U.S. consumers against crypto collapses similar to FTX’s, other senators aren’t sure about moving forward with the Digital Commodities Consumer Protection Act. The bill, which was a major topic during Bankman-Fried’s numerous visits to Washington over the last several months, will be a major topic of conversation during today’s hearing.
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.
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