Warren Presses Fed’s Powell on Bank-Crypto Links After FTX
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US Senator Elizabeth Warren wants an accounting from Federal Reserve Chair Jerome Powell and other top bank watchdogs on the links that major lenders have with the crypto industry following FTX’s spectacular collapse.
Warren and Tina Smith, who is also a Democratic senator, want to know how the Fed, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. “assesses the risks to banks and the banking system associated with those relationships.” The pair said those connections might be deeper than previously thought.