This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. FTX, the crypto giant that is led by arguably the most powerful person in the industry, is under investigation by Texas regulators for selling unregistered securities. “The Enforcement Division is now investigating FTX Trading, FTX US, and their principals, including Sam Bankman-Fried,” said Joseph Jason Rotunda, director of enforcement for the Texas State Securities Board.
Treasury and IRS have all stepped up their crypto enforcement efforts. And they are just getting started.” Leading crypto skeptic Nouriel Roubini once wrote in 2019 that regulators were “asleep at the wheel” when it came to crypto, so I wanted to see if he still believes that to be true. He sounded less optimistic than Stark. “In spite of recent investigations, regulators are still way behind the curve,” Roubini told me. “It is the law of the jungle in crypto.
million President Biden announced the sale of an additional 15 million barrels of oil from the Strategic Petroleum Reserve. That’s the last of the 180 million barrels Biden announced in March that the government would sell to stabilize the then-soaring gas prices. The move comes on the heels of OPEC+ cutting production — a move that left Western officials furious.
Michael Saylor, founder of Microstrategy and dark priest of the church of crypto, emerged in 2020 as perhaps the most ubiquitous bitcoin booster on TV. From Fox News to CNBC to Bloomberg, Saylor was always available to pump up bitcoin through its dizzying climb and fall. I interviewed Saylor last year for CNN’s crypto interactive . However, in August word came out that Saylor was named in a suit by the D.C. attorney general for evading $25 million in taxes.