White House Monitoring FTX Collapse

As per reports, the White House is monitoring and keeping a close eye on FTX debacle.

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Also, citing the bankruptcy filing as evidence, the cryptocurrency industry needs strict regulation.

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The administration added that Americans risked getting harmed if cryptocurrencies are not properly monitored.

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The collapse of FTX has blown the cryptocurrency industry this week.

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As reported by Bloomberg, according to people familiar with the matter, SEC and Commodity Futures Trading Commission are investigating whether FTX mishandled customer fund.

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According to OpenSecrets' biggest individual donor list, Sam Bankman-Fried has contributed $40 million to campaigns this election cycle.

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At the press time, FTX Token price is $2.04 USD.

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