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December 21 - According to the Japan Meteorological Agency, a 5.5-magnitude earthquake struck off the eastern coast of Aomori Prefecture, Japan, at approximately 10:29 a.m. local time on December 21. The maximum tremor was felt as a 4, and the epicenter was 50 kilometers deep.On December 21, the United States intercepted another oil tanker off the coast of Venezuela, which the Venezuelan government called an act of piracy. Jeremy Paner, a partner at the Washington-based law firm Hughes Hubbard and a former investigator with the Office of Foreign Assets Control (OFAC), said the ship was not subject to U.S. sanctions. “The seizure of a vessel not sanctioned by the United States marks a further increase in pressure on Venezuela by Trump,” Paner said. “This also contradicts Trump’s statements that the U.S. will blockade all sanctioned oil tankers.”On December 21, Venezuelan Vice President and Oil Minister Rodríguez condemned the United States for "theft and hijacking" of private vessels carrying Venezuelan oil in international waters on December 20. In a government statement released via social media, Rodríguez stated that this serious act of "piracy" violated international law. He asserted that the colonial model the US government attempted to impose on Venezuela would ultimately fail, and that the Venezuelan government would appeal to the UN Security Council and other multilateral organizations for appropriate action.On December 21, the World Trade Organization (WTO) released its "World Trade Report 2025" on December 20, local time. The report indicates that, with supporting policies in place, artificial intelligence (AI) is expected to increase cross-border trade in goods and services by 34% to 37% and global GDP growth by 12% to 13% by 2040 by improving productivity and reducing trade costs. The report emphasizes the need to bridge the digital infrastructure gap, strengthen skills training, and maintain an open and predictable trading environment to ensure more inclusive growth.According to Business Insider, Apple has advised some employees with visas not to travel outside the United States due to embassy delays.

U.S. Senate to hold FTX hearing on Dec. 1, CFTC chairman to testify

Cory Russell

Nov 22, 2022 15:35

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The U.S. Senate Agriculture Committee on Thursday said it will hold a hearing on Dec. 1 to examine the sudden collapse of FTX, one of the world’s biggest crypto exchanges.


FTX filed for bankruptcy on Nov. 11, leaving an estimated 1 million customers and other investors facing billions of dollars in total losses. The firm’s failure has created a liquidity crunch that has rippled across the industry and sent the prices of bitcoin and other digital assets plummeting.


Rostin Behnam, the chairman of the Commodity Futures Trading Commission, is the first witness named for the hearing, titled, “Why Congress Needs to Act: Lessons Learned from the FTX Collapse.”


U.S. Senate Agriculture Committee Chair Debbie Stabenow also on Thursday called on Congress to pass the bipartisan Digital Commodities Consumer Protection Act, which she said, “would have prohibited the misconduct and risky behavior undertaken by FTX.”


The U.S. House Financial Services Committee has also said it plans to hold a hearing in December to investigate FTX’s collapse.