The Hole on the FTX Balance Sheet Remains Gaping
The Breakdown
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The SEC and Crypto, the Crypto Carpet Bombing Continues
The SEC proposed a controversial rule that would require registered investment advisors, including pension funds and some VC firms, to custody their crypto assets with qualified custodians. In an appearance at an investor advisory committee meeting, Gary Gensler doubled down on the proposal. Many in the industry are now asking if they should just domicile elsewhere. The intensity of the regulatory action has irked several folks in Congress, including many Democrats.
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