? U.S. Losing Grip on Cryptocurrency Market?


Cryptocurrency has been a hot topic in 2022, with many saying the U.S. influence over the sector is waning. The Coinbase CEO, Brian Armstrong, even said that if the U.S. cannot get regulation right, Coinbase would have to invest more elsewhere. This discussion was brought to the fore in a Senate Banking Committee hearing on September 12th, with Chairman Gary Gensler being the lone witness.

Chairman Sherrod Brown (D-OH) stated that “The FTX collapse showed how dangerous crypto can be. But FTX wasn’t a lone bad apple. It was just the most explosive example of the problems in crypto. It seems like every day before and after FTX collapse, there’s another crypto scam, hacker or insider taking advantage of people and another few million dollars loss. The problems we saw at FTX are everywhere in crypto.” Gensler responded by saying “I’ve been around finance for 44 years now and I’ve never seen a field that’s so rife with misconduct. It’s daunting.”

The battle over

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