![]() And the environmental toll of cryptos energy-intensive computing. chairman until December, is now a paid adviser to the hedge fund One River Digital Asset Management, which invests hundreds of millions in Bitcoin and Ether, two cryptocurrencies, for its clients. Fiduciary responsibility, regulation, and oversight are still lacking in the sector. With the industry’s hires of recent government officials, claims of conflicts of interest are already starting to emerge. Musk said, before adding, “Yeah, it’s a hustle.” The price of Dogecoin plunged nearly 35 percent in the hours after the show aired. In recent months, auditing firms have been under scrutiny by industry observers, analysts, and investors following the failure of the multi-billion crypto firm FTX. It’s an unstoppable financial vehicle that’s going to take over the world,” Mr. Legislators in the United States are also under pressure to set a new regulatory framework for cryptocurrencies after last Novembers dramatic collapse of crypto exchange FTX, setting the stage. The billionaire Elon Musk, who hosted “Saturday Night Live” this weekend, was asked about Dogecoin, a cryptocurrency featuring the face of a Shiba Inu dog that was created as a joke but has recently surged in value. FTX, the cryptocurrency trading firm, is spending $135 million to secure the naming rights to the home arena of the Miami Heat. The lobbying burst is one of several recent signs nationwide that the industry is becoming a bigger presence in the economy. Despite the news of executive departures causing. CZ’s perspective suggests that these departures are part of the normal ebb and flow of talent within the cryptocurrency industry. Some of the biggest spenders on lobbying include Ripple, Coinbase - the largest cryptocurrency exchange in the United States - and trade groups like the Blockchain Association. Binance’s CEO, Changpeng Zhao (CZ), has addressed the recent departures and linked them to the SEC lawsuit, describing them as normal turnover within the company. Lobbying disclosure records show that at least 65 contracts as of early 2021 addressed industry matters such as digital currency, cryptocurrency or blockchain, up from about 20 in 2019. ![]() Max Baucus, the Democratic former chairman of the Senate Finance Committee, and Jim Messina, a former top Obama adviser, also have recently been named to senior industry posts. Christopher Giancarlo, who was named to the board of BlockFi, a financial services company that tries to link cryptocurrencies with traditional wealth managers. The board of advisers at the digital chamber is stuffed with former federal regulators, including a former member of Congress and a recent chairman of the Commodity Futures Trading Commission, J.
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