Gensler’s SEC gamble, Binance vs the CFTC and who takes Bankman-Fried’s place in Washington: The Scoop
and broke down the biggest stories and trends from Gary Gensler's big bet against crypto to CBDCs and who takes Sam Bankman-Fried's place in Washington, DC.
From the collapse of FTX, Blockfi, Voyager, Celsius and others, to the aggressive stance regulators are displaying, it's been busy in Washington. "We went from big bull market to the collapse of some of the biggest crypto firms that sent ripples through the entire industry," Murray said. "It's definitely impacted me. And Stephanie, I mean, most of the companies I wrote about are now bankrupt or are out of business, about 50% from Blockfi to FTX to Celsius," Chaparro said."I'm gonna have to hope on the policy beat, I don't really have much to do these days!"For all his faults, Chaparro noted that Sam Bankman-Fried, the disgraced founder of bankrupt FTX, stepped up to represent the industry in Washington, DC, to agitate for change.
"Whereas Sam was not antagonistic to regulators, but ran a fraud. So what we need is someone who doesn't operate a fraud, and who is not antagonistic to regulators. So there's a Venn diagram there, and somewhere there is a CEO or a figurehead who can fill the gap," Chaparro said.The Block's Frank Chaparro and The Block's Stephanie Murray.
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