Congressman Auchincloss noted that FTX may have violated rules that already exist in the U.S., regardless of the technology.
The world's largest gaming company, Tencent saw a 3% increase in its international gaming revenue to $1.65 billion this quarter as domestic Chinese revenues dropped 7% following two years of tech industry crackdowns.
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Republicans Elect Steve Scalise to Be Next House Majority LeaderHouse Republicans elected Minority Whip Steve Scalise (R-LA) on Tuesday to serve as majority leader in the next Congress in anticipation that Republicans will narrowly clinch the chamber majority.
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FTX Contagion Spreads: Crypto Lender BlockFi Faces Potential BankruptcyBlockFi, a platform for crypto-backed loans and trading, may also face bankruptcy due to its exposure to FTX, the beleaguered cryptocurrency exchange that was led by Democrat megadonor Sam Bankman-Fried.
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After Bankruptcy, FTX User Claims Pay Cents on the DollarDistressed asset investment firm Cherokee Acquisition put a midpoint 10 cents on a dollar guide price on FTX deposits on its marketplace. A more realistic price might be around 3 to 5 cents, says one investor. sndr_krisztian reports
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Crypto Needs an FDIC-Like Protocol to Prevent Liquidity CrisesCrypto, with increased adoption, will lead to a more equitable and inclusive financial system. But not if we continue to expect new users and veteran users left shouldering the risk alone. insurenimble's Adam Hofmann (ahrevival) writes. Opinion.
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