Good morning folks. I'm in a Seattle courthouse today with @realDannyNelson covering @cz_binance's sentencing hearing. The DOJ's asked for 3 years in prison; defense has asked for house arrest and probation. Thread starts here

coindesk.com/policy/2024/04… @realDannyNelson @cz_binance CZ just walked in, wearing what looks like a deep blue suit and sporting his trademark buzzcut. Both teams of attorneys are also present; hearing is scheduled to kick off at 9am PT

Voyager counsel Joshua Sussborg tells court an alternative to selling assets to @BinanceUS is a self-liquidation but that's "in no one's interest." @BinanceUS Fascinating comment from Abigail Ryan on behalf of the Texas Attorney General's office: "For the record. Binance is using our citizenry this time to get what they could not get under state law: a license was the Department of Banking. As of December 2022, their application was 1/

Hey folks. @SDNYnews is about to hold a press conference on the arrest of @SBF_FTX and today's unsealed indictment. Thread starts here. #FTX It's supposed to be streamed here but nothing yet: facebook.com/usaosdny/

Good morning folks. Here's what's on deck today:
* Unsealing of criminal indictment of SBF
* SBF appearance in a court in The Bahamas
* House Financial Services Committee hearing on FTX
* SEC charges against SBF (already published) SBF was charged with conspiracy, wire fraud, and campaign finance violations today coindesk.com/policy/2022/12…

INBOX: @SenSherrodBrown @SenToomey statement says @SBF_FTX has refused two different dates and virtually appearing before the @SenateBanking @BankingGOP committee. Also says SBF's counsel won't accept a subpoena .@SBF_FTX is appearing virtually before House Financial Services tomorrow. He's apparently refusing to appear before Senate Banking on Wednesday

.@andrewrsorkin's interview of @SBF_FTX for the #DealBookSummit is starting now. You can watch at this link and thread starts here nytimes.com/live/2022/11/3… .@andrewrsorkin: "There are people who don't believe that this conversation should happen. And I just want to say that I think our job as journalists is to have those conversations, to ask those questions and seek those answers on behalf of the public." #DealBookSummit

Good morning folks. The New Jersey Bankruptcy Court will be holding @BlockFi's First Day hearing at 11:30 a.m. ET. The general public can tune in via the Zoom link at the bottom of this page, and of course I will be tweeting for @CoinDesk: njb.uscourts.gov/BlockFi#Hearin… #BlockFi @BlockFi @CoinDesk Chief Judge Michael Kaplan is opening with some housekeeping; Michael Sirota introduces himself on behalf of BlockFi

Good evening folks. Ryan Pinder, the Attorney General of the Bahamas, is supposed to give a live address on FTX. It was supposed to be on Facebook, but hasn't started there yet. I'm watching here: znsbahamas.com/watch-live-2/ #FTX #FTXbankruptcy

https://twitter.com/nikhileshde/status/1596947359581151232

Pinder starts off quickly walking through the last 3.5 weeks, citing @IanAllison123's @CoinDesk report on Alameda Research's FTT holdings. Says only FTX Digital Markets was regulated in The Bahamas, not Alameda #FTX #FTXbankruptcy

Nearly 550 people in the Zoom call for the first day hearing for FTX's bankruptcy already. Expect some tweets here for @CoinDesk. Not sure how many in the courtroom. Participants were told to attend IRL #FTXbankruptcy @CoinDesk The Judge said he would grant relief to a motion to seal -- think this means keeping the list of top 50 creditors under seal at the moment #FTXbankruptcy

All righty, I am home, watered, fed and taking a look at today's @CFTC actions against bZx and Ooki DAO. Going to live-tweet my reading. Link for reference cftc.gov/PressRoom/Pres… @CFTC Press release: Unregistered leveraged/margined products, sure, no customer ID program (ie KYC requirements?)

Good morning folks: The @SenateBanking @BankingGOP Committee is hosting a hearing on stablecoins right now. You know the drill, thread starts here: You can follow the stream here or on CoinDesk.com

Good morning folks. At 10am ET today the @FSCDems @FinancialCmte will be hosting six crypto execs to discuss digital asset trading and stablecoins
coindesk.com/policy/2021/12… We will hear from @jerallaire, @SBF_FTX, @BrianBrooksUS, @PaxosGlobal CEO Charles Cascrilla, @DenelleDixon and @Coinbase Inc CEO/Global CFO Alesia Haas

Previewing what we might see on the Hill today around the crypto provision:

coindesk.com/senates-infras… A spokesperson for @SenTedCruz tells me he will support the @RonWyden/@SenLummis/@SenToomey amendment coindesk.com/senates-infras…

THREAD: Crypto has fully arrived in DC, with a bipartisan, trillion-dollar infrastructure bill containing a crypto tax reporting provision.

I’ll try to clarify some misconceptions.

Here’s what’s happening and how we got here:

coindesk.com/how-controvers… 2/ On July 28, a draft version of the crypto rule in the bill expanded the definition of a “broker” w/r/t the crypto industry.

It included anyone who provides a service/app for a digital asset transfer, including non-custodial/P2P services and DEXs:

coindesk.com/new-infrastruc…

Okay so it is 9:45pm ET and here's where things stand:
- Senate is currently voting on a judicial nomination
- Senate Majority Leader @chuckschumer has filed cloture on the overall infrastructure bill, IE moved to end debate around it and start voting - It's unclear when, specifically, we might start seeing votes on the amendments around this infrastructure bill, but there are TWO amendments the crypto industry should be paying attention to. 1) The @RonWyden @SenLummis @SenToomey version: coindesk.com/crypto-tax-exe…

.@SenToomey is currently on the Senate floor discussing the amendment, says there are many use cases such as a "Disbersed mechanism for validating ownership" coindesk.com/crypto-tax-exe… @SenToomey "How do you ensure that a person who has a copyright is properly compensated when that copyright is used?" @SenToomey says of programmable money as another use case

A thread of US Senators pushing back against the crypto provision currently outlined in the infrastructure bill Sen. Ron Wyden (D-Ore.), Chair, Senate Finance Committee (oversees IRS) @RonWyden

https://twitter.com/RonWyden/status/1421864062233628672

LIVE: In 15 minutes @SenateBanking @BankingGOP will consider the nominations of Gary Gensler for @SEC_News and @chopraftc for @CFPB. Gensler in particular might have a major impact on the industry. You know the drill, thread starts here:
coindesk.com/gary-gensler-s… Should be livestreamed here banking.senate.gov/hearings/02/22…

A huge chunk of the public comments on the FinCEN rule claim it violates the 4th Amendment. Anyone able to say how accurate that is? My guess is FinCEN's lawyers would have checked for that but I am not a lawyer so would appreciate confirmation/refutation My hot take is the old regulations.gov site > beta.regulations.gov because it shows you comment previews

Last year President @realDonaldTrump nominated acting @USOCC Comptroller @BrianBrooksOCC to a full 5-year term. As I understand it, that nomination expired at the end of last year. On Jan. 3, Trump re-nominated Brooks to a full term again whitehouse.gov/presidential-a… Judy Shelton's nomination to the @federalreserve has also been sent back to the Senate, as has been Robert Benedict Bowes to succeed @CFTCquintenz, who announced his departure last year

Had some technical difficulties but I am now tuned into #bitcoinforadvisors, where @Liqquidity is interviewing @eervin1, @jdorman81 and @DaveNadig about bitcoin ETFs ETFs are a more liquid version of mutual funds, which is why they originally took off @jdorman81 says #bitcoinforadvisors