White House Crypto Crash Reaction News: In response to the crypto crash and the high volatility around the industry, the White House representatives made some interesting comments. Speaking to media on Friday, White House press secretary Karine Jean-Pierre said solle are harming average American lives. She said the White views the crypto oversight as an important issue. The secretary said the recent events in crypto highlight the need for crypto regulation.
Weiderliesen: SBF demissionéiert, John Ray III trëtt als neie FTX CEO
White House On Crypto Crash
The statement from the Biden administration comes amid an ongoing probe on FTX by the US Securities and Exchange Commission. The secretary said the administration is working along with relevant agencies in monitoring the situation in the crypto industry. The SEC probe is focused on how the US arm of FTX is related to other companies associated with De Sam Bankman-Fried. The authorities are also looking at whether the crypto exchange mishandled customer funds.
d' Pressesekretär vum Wäissen Haus further said,
“Without proper oversight of cryptocurrencies, they risk harming everyday Americans. So this is something that clearly we monitor and that we see as an important issue but the most recent news further underscores these concerns and highlights why prudent regulation of cryptocurrency is indeed needed. Th White House, along with the relevant agencies, will closely monitor the situation as it develops.”
Earlier, the troubled crypto exchange FTX announced it was going for a voluntary chapter 11 bankruptcy filing. The FTX group, which involves FTX and Alameda Research along with many other companies, will get additional time to assess the situation thanks to the bankruptcy. Also, Sam Bankman-Fried had resigned from his role of the chief executive officer. The group replaced SBF with John J. Ray III as the neie FTX CEO.
Meanwhile, the crypto market is running in green following the FTX bankruptcy announcement. However, chances are the crypto market could eventually plummet. As of writing, Bitcoin (BTC) price stands at $16,915, up 0.70% in the last one hour, according to price tracking platform CoinMarketCap.
Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.
Source: https://coingape.com/white-house-crypto-crash-ftx/