There are a lot of things going on in the FTX case, for example, SBF’s $700 million asset seizure, SBF listing his housing property for ~$3M sale, current CEO John Ray preparing for re-starting the exchange, and many other things. And adding new to the list, the immediate family members of the SBF are now under the radar of the official FTX Legal Team. Senator Ted Cruz, the Republican Senator has proposed to introduce crypto payments in the area of the Capitol.
1. SBF’s Immediate Family Members to Answer Under Oath
The FTX-saga continues, in the recent updates there are things disclosing hundreds of lies that SBF has been telling since day one. Now the legal team of FTX is demanding that the SBF’s immediate family members face questioning under oath. According to the previous reports, the FTX legal team highlighted that the family members including the father, mother, and brother were working as advisors to the SBF. And hence should be brought under questioning along with the former corporate officials.
It is denoted that the SBF’s brother has purchased a luxurious real estate property worth millions of dollars in a very lavish neighborhood. Allegedly, that property purchase could have been carried out with debtors' money. Currently, the father of SBF, Joseph Bankman is in discussions with the FTX legal team and the mother Barbara Fried has denied the request to get into discussions.
It will be interesting to see if the court grants permission to FTX legal team for questioning SBF’s immediate family members, if they grant permission then will it open new secrets of the FTX-saga? Well, I hope they get permission, after all, they are involved in the entire operation of SBF and the truth should come forward!
2. Crypto-Powered Vending Machines & Gift Shops in US Capitol?
Senator Ted Cruz is a Republican senator who has been very well known for his support for the crypto industry. Previously, he has proposed a number of measures to bring legality to the crypto space. Now he is in the limelight for proposing an idea to let vendors in the Capitol area accept crypto payments.
According to the new directive proposed by Ted Cruz, it will be encouraged to get into contracts with the person who accepts cryptocurrency for food services and vending machines as well as to encourage the gift shops in the Capitol area to accept crypto payments.
Even though the proposals are very positive looking for the crypto adoption but they have to be accepted by both the House and the Senate, which is quite unlikely in my opinion, but let’s see. In case it gets accepted, the technology will be much closer to the policymakers and it might encourage them to try it out who knows some might change their mind and start liking it!
Check official directive: Congressional Record | Congress.gov | Library of Congress
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