GOOD NEWS SENATE HEARING YESTERDAY ON CRYPTO

GOOD NEWS SENATE HEARING YESTERDAY ON CRYPTO

Sam Bankman-Fried, the chief executive officer and co-founder of cryptocurrency exchange FTX, said 95% of crypto trading volume occurs offshore and urged for greater regulatory clarity to attract businesses to the U.S.

“Despite the majority of the intellectual property for the digital asset industry originating from the United States, 95% of volume occurs offshore,” Bankman-Fried told members of the Senate Agriculture Committee during a hearing Wednesday on crypto assets. “The majority of assets are not accessible at all from the United States. It would be great to be able to move that liquidity, that business back on shore.”