In an announcement, Senate Banking Committee Chairman Sherrod Brown (D-Ohio) mentioned, “Because the affect of FTX’s collapse continues to ripple outward, at the moment we’re seeing what can occur when a financial institution is overreliant on a dangerous, risky sector like cryptocurrencies. I’ve been involved that when banks become involved with crypto, it spreads threat throughout the monetary system and it is going to be taxpayers and customers who pay the value. That’s why I’m persevering with to work with my colleagues in Congress and monetary regulators to ascertain robust safeguards for our monetary system from the dangers of crypto.”
