Democrats have retained control of the U.S. Senate after a whirlwind election week dogged by crypto market madness. FTX's swift collapse will likely spell more regulations for the space. By iamsandali
Crypto prices across the board took a nosedive following the news, with bitcoin price dropping 22% in the last seven days, according toBankman-Fried, who said he had spent much of his time talking to lawmakers and regulators in D.C. these last months, may still influence crypto rules, but not in the way he might have intended.
Several key Senators within the Democratic Party have expressed concern over the collapse of crypto exchange FTX, which was led by major election donor Sam Bankman-Fried. Sen. Sherrod Brown, who will continue to chair the Senate Banking Committee, and Sen. Elizabeth Warren, who sits on that committee, have both called for investigations into the exchange.
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