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According to Fox News: The White House will hold a tax day press conference on Wednesday, local time, which will be attended by Treasury Secretary Bessant and Small Business Administration Administrator Loeffler.Commerzbank CEO: Germanys economic outlook has weakened.According to the Wall Street Journal, European countries are drafting a plan to form a broad, multinational alliance to help clear shipping lanes in the Strait of Hormuz. However, the plan would only be implemented after the war and might exclude the United States.According to Fox News: U.S. Representative Eric Swalwell (Democrat from California) and Representative Tony Gonzalez (Republican from Texas) have officially resigned from their seats in Congress. The House Clerk read their resignation letters.On April 15th, according to AXIOS, the Trump administration eased sanctions on Venezuelas state-owned financial system on Tuesday. Venezuelan state-owned banks and other large financial institutions can now legally use US dollars, directly receive billions of dollars in oil sales revenue, and re-enter the global financial system to support their damaged economy. This move by the US Treasury Department also aims to boost Venezuelas oil industry and stabilize the new government led by acting president Rodriguez. Following the US takeover and detention of former President Maduro on January 3rd, the US seized control of Venezuelas state-owned oil company, PDVSAs, oil revenues. However, subsequent administrative obstacles imposed by US financial sanctions delayed the transfer of billions of dollars to the Venezuelan central bank and slowed the countrys energy development projects. This is not a complete lifting of sanctions, but rather the issuance of licenses through the Treasury Departments Office of Foreign Assets Control (OFAC) to specific financial institutions, enabling them to participate in the US financial system.

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.


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