The explosive revelations of Caroline Ellison: Law Decoded

Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellisonat Alameda under Bankman-Fried’s direction. However, she blamed the misuse of FTX user funds directly on SBF, claiming he “set up the systems” that led to Alameda taking roughly $14 billion from the exchange.around FTX, causing users to withdraw their funds.

Seven members of the United States Senate have called on the Treasury Department and Internal Revenue Service to advance a rule imposing certain tax reporting requirements for crypto brokers “as swiftly as possible.” A group of U.S. senators, including Elizabeth Warren and Bernie Sanders, criticized a two-year delay in implementing crypto tax reporting requirements, which arein 2026 for transactions in 2025.

Warning about the risks of the technology, the regulator concludes that currently, DeFi and crypto, in general, do not represent “meaningful risks” to financial stability. That is because of their relatively small size and limited interconnectedness between crypto and traditional financial markets. The Malaysia-based Hata has received in-principle approval from the Securities Commission Malaysia to register as a Recognized Market Operator as a digital asset exchange and digital broker. The approval means Hata could launch its services in six to nine months. Hata will become the fifth regulated digital asset exchange in Malaysia and the first legal entity to receive approval as a digital broker, allowing it to display trade orders from other regulated exchanges.

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