FTX’s collapse revealed numerous skeletons in the closet of the company. One of the skeletons appeared to be U.S. Farmington State Bank, which FTX owned through a subsidiary.

The New York Innovation Center (NYIC), a joint project of US Fed and BIS, is launching a proof-of-concept project to explore the feasibility of an interoperable network of digital central bank liabilities and commercial bank digital money using distributed ledger technology.

The blockchain project LBRY that is developing “decentralized” Youtube, Odysee, lost the court case against SEC. Observers see a precedent for the Ripple case.

FED is trying to stifle high inflation by rising interest rate and - surprisingly - by provoking unemployment as fears of recession escalate. The crisis could expand around the globe and lead to a contraction in the world’s economy.

U.S. Senator Elizabeth Warren accused Zelle payment app in facilitating fraud. The report cites data collected from Bank of America, PNC Bank, U.S. Bank, and Truist while it also mentions that JPMorgan Chase, Wells Fargo, and Capital One failed to provide complete information for the review

President Biden issued executive order on digital assets tasking federal agencies to coordinate their work on developing a framework. US Treasury, the White House Office of Science and Technology Policy presented their response reports in a joint call.

U.S. Treasury Office of Foreign Asset Control (OFAC) has sanctioned the largest Ethereum mixer, Tornado Cash. Major financial and infrastructure service providers complied, putting self-sufficient DeFi under the question.

Senators Cynthia Lummis (Republican) and Kirsten Gillibrand (Democrat) proposed a bill to regulate crypto. A large part of amendments of this 69-page document expands the jurisdiction of Commodity Futures Trading Commission (CFTC) over digital assets.