Referring to the events surrounding the collapse of FTX as “a handful of magic beans”, Massachusetts Senator Elizabeth Warren seemed to frame the “contagion” spreading through the crypto space as a partisan issue.
Speaking at a Senate Banking Committee nomination hearing on Nov. 30, Warren
The ripple effects of a major exchange like FTX declaring bankruptcy amid a bear market are ongoing. Crypto firm BlockFi filed for Chapter 11 bankruptcy on Nov. 28, saying FTX owed certain financial obligations to the company. Global lawmakers and regulators have also announced intentions to investigate the events surrounding FTX and potentially create new regulatory frameworks, including those from the European Central Bank, U.S. state governments, and securities regulators in the Bahamas.
