|

Crypto CEOs to testify before US House Financial Services Committee

  • Representative Maxine Waters, chairwoman of the US House Committee on Financial Services, has invited cryptocurrency CEOs to testify at the full hearing. 
  • CEOs of FTX and Coinbase, Sam Bankman-Fried and Alessia Haas are on the witness list of executives invited to testify at the committee hearing. 
  • The hearing’s agenda is to hold crypto CEOs accountable for protecting consumers and investors availing of their services. 

The US House Committee on Financial Services oversees all components of the financial services sector. The committee has scheduled a hearing on “Digital Assets and the Future of Finance,” inviting CEOs of cryptocurrency exchanges and firms to testify. 

Sam Bankman-Fried of FTX to testify on ‘Digital Assets and the Future of Finance’

Sam Bankman-Fried, the CEO of FTX, a leading cryptocurrency derivatives platform, is one of the key witnesses on the US House Committee on Financial Services list. 

Congresswoman Maxine Waters, Chairman of the committee, has invited CEOs of Circle, FTX, Bitfury, Paxos, Stellar Development Foundation and Coinbase Inc. to testify at the full hearing. 

The committee’s agenda is to focus on fairness, protecting consumers and investors, holding large financial institutions and emerging tech products and services accountable for the protection of consumers and investors. 

Chairwoman Maxine Waters has made it a practice to organize committee hearings and call upon CEOs of major financial institutions. 

All committee hearings are live-streamed. In the hybrid committee hearing on December 8, CEOs and attendees will take up the topic,“Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”

In hybrid hearings, members and witnesses are allowed to participate remotely or in person. 

Chairwoman Waters has been an outspoken critic of cryptocurrencies due to the unregulated nature of the asset. Witnesses on Chairwoman Waters’ list are keen on stricter cryptocurrency regulation. 

Sam Bankman-Fried of FTX is in favor of tighter cryptocurrency regulation for investors. Bankman-Fried expressed his thoughts on the matter in an interview in September. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Pi Network Price Forecast: Bearish streak nears critical support trendline

Pi Network (PI) edges lower on Friday for the third consecutive day, approaching a local support trendline. The on-chain data suggests an increase in supply pressure as Centralized Exchanges (CEXs) experience a surge in inflows.

Top Crypto Gainers: Zcash rallies as MYX Finance, Dash test critical EMA levels

Zcash , MYX Finance, and Dash are the top-performing assets in the top 100 cryptocurrency list over the last 24 hours. The privacy coin leads the rally while MYX and DASH struggle to clear their 100-day Exponential Moving Averages (EMA).

XRP slides amid record on-chain activity, mixed technical signals

Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.

Aster lags recovery as perpetual DEX releases new roadmap on infrastructure, utility and ecosystem 

Aster is consolidating above $1.05 at the time of writing on Thursday, reflecting lethargic sentiment in the broader cryptocurrency market. The token native to the perpetual DEX had recovered from Monday's low of $0.88 but stalled around $1.08 on Wednesday.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.