From CNN Business' Allison Morrow
The fall of FTX, the bankrupt crypto exchange founded by Sam Bankman-Fried, has put a harsh spotlight on the relatively lax oversight of the crypto industry, spurring calls for Congress and US financial regulators to do more to set rules in the often wildly speculative and volatile market for digital assets.
“The failure of this crypto exchange brings to mind the litany of financial firm failures due to the combination of reckless risk taking and misconduct,” Brown wrote.
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