This U.S. Senator ‘Sees No Reason’ Why Crypto Should Exist [ Crypto Espresso 12.12.22 ]

Sluggish start to the week huh well some Crypto espresso should fix that right up That's right I'm your host Andrew and This is crypto espresso your teeny tiny Daily shot of caffeinated crypto Headlines another big end today so let's Just go first up Sam bankman freed Secretly funded a major crypto news site But it wasn't us just to be clear a Series of loans were given to the blocks CEO Michael McCaffrey and no one else Was aware of this Arrangement tens of Millions of dollars were used to fund a Buyout and drive day-to-day operations With McCaffrey using 16 million dollars To purchase personal real estate in the Bahamas well now he's stepping down as CEO and while Executives say there's no Evidence that this led to coverage being Influenced the loans have been described As a serious lack of judgment new CEO Bobby Moran said it undermines the Block's reputation and credibility Especially that of our reporters and Researchers as well as our efforts at Industry-leading transparency the house Financial Services committee has Confirmed that SBF will attend a hearing About FTI X's collapse on Tuesday December 13th the 30 year old has come Under increasing pressure to offer Testimony to U.S politicians and was Being threatened with a subpoena if he Had failed to do so investigating the

Collapse of FTX we'll also hear from John J Ray III who succeeded SPF as CEO After the exchange was tipped into Bankruptcy it is unclear whether SPF is Planning to travel to Washington DC for The hearings but he has been given the Option to take part remotely from the Bahamas SEC chairman Gary Gensler is Also being urged to testify with a Politician saying he must answer Questions about the cost of his Regulatory failures well some U.S Senators just don't mince their words When it comes to crypto and they're Feeling especially emboldened following The collapse of FTX it's all Senator John tester recently told Semaphore a news outlet that counts Sam Beckman freed himself as one of its Investors during a recent interview on Meet the Press the Democratic senator From Montana went one step further and Suggested that digital assets should be Banned all to together rather than Regulated it's not been able to pass the Smell test for me I've not been able to Find anyone who's been able to explain To me what's there other than synthetics Tester warned the Senate Banking Committee fears regulation risks Legitimizing digital assets putting Customers at risk dokwan is currently in Serbia and prosecutors believe that he's Fled abroad to avoid investigation at

Least according to a report according to The chosun ilbo a South Korean official Investigating the collapse of terraform Labs said recently we obtained Intelligence that Quan was in Serbia and It was found to be true Quan has been in The spotlight ever since the Luna and UST cryptocurrencies collapsed back in May wiping an estimated 48 billion Dollars from the market despite him Seemingly being on the Run he's denied That he's on the run and says his Location is a secret over safety Concerns an arrest warrant for Quan was Issued in September and he's the subject Of an Interpol red notice South Korea's Ministry of justice is now seeking Cooperation from the Serbian government And finally Gwyneth Paltrow Justin Bieber Serena Williams and Jimmy Fallon Are among the a-listers facing a class Action lawsuit for promoting board ape Yacht Club nfts the case aims to Represent all investors who purchased Non-fungible tokens released by Yuga Labs as well as apecoin tokens the Filing argues that the celebrity Promotion of cryptocurrencies is fraught With problems and it's claimed Yuga Labs Was involved in a vast scheme with Celebrities to misleadingly promote and Sell its products it's alleged that all Of these stars as well as Madonna Paris Hilton Kevin Hart and beeple engaged in

Manufactured endorsements to Artificially increase interest in Bourdain benefis as well as their price Yuga labs for their part has denied the Allegations and speaking of artificial Inflation today's crypto espresso is in The rear view mirror thus appearing Larger than it is yeah that makes sense What also makes sense is liking this Video subscribing to our YouTube channel And clicking on that little bell icon to Get burst whenever a new crypto espresso Video goes live and did you like today's Episode did you hate it well sound off In the those comments below because I Read them and I might just shatter my Favorite comments in a future episode I Also take criticism far too harshly so You know you could do you do that and Hurt my feelings or something questions About our headlines or crypto in general Just ask Alex in that description below Alex is a great resource for all things Win 3 and the metaverse and that about Does it for today again I've been your Host Andrew these have been your Headlines and ladies and gentlemen we'll See your beautiful faces tomorrow