• Elizabeth Warren is asking the SEC to investigate Elon Musk’s dual roles at Twitter and Tesla.
• Binance is cutting employee benefits due to declining profits.
• The Financial Stability Board released a framework for global crypto-asset regulation.
Elizabeth Warren Questions Dual Roles of Elon Musk
Senator Elizabeth Warren has recently requested that the Securities and Exchange Commission (SEC) investigate Elon Musk’s dual roles as CEO of both Twitter and Tesla. She believes that there may be conflicts of interest with this arrangement, which could harm investors in either company.
Binance Cuts Employee Benefits
In response to declining profits, Binance has announced cuts to employee benefits, including health insurance and vacation time. It has also hinted at more layoffs in order to save costs.
Financial Stability Board Releases Crypto Regulation Framework
The Financial Stability Board (FSB) has released a new framework for global cryptocurrency regulations aimed at protecting investors from risks posed by digital assets. The framework includes guidelines on how governments should handle anti-money laundering laws and other financial regulations related to cryptocurrencies.
Token Streaming Look To Disrupt Global Liquidity
Sablier Operations Lead Maxime Desalle spoke about “token streaming” during EthCC, which involves sending small payments continuously like one would stream movies or music online. This system could allow people to get paid every second instead of monthly or weekly paychecks, reducing delays and latency in the economy according to Desalle.
BlockFi CEO Neglected Warnings About FTX Prior To Collapse
Court documents have revealed that BlockFi CEO Zac Prince neglected warnings about the failing crypto exchange FTX prior to its collapse earlier this year. Prince allegedly ignored warnings from his own employees about the exchange’s instability, resulting in significant losses for BlockFi customers who had invested their funds through FTX before it collapsed.