“I think we're seeing both politicians and folks in the industry agree that more regulation is needed,' said Rolf Skar.
Hochul wound up winning the general election. FTX crashed after the revelation that Bankman-Fried’s trading firm was highly reliant. As traders rushed to pull out of FTX, the company faced a liquidity crisis, then declared bankruptcy in the public sphere, sending shockwaves through the industry and sending the value of many cryptocurrencies plummeting.
Regulators are growing increasingly wary of the energy waste this process requires. In September, the White House Office of Science and Technology Policyurging regulators to step in, warning that the sector’s energy use, “a range that exceeds the total annual electricity usage of many individual countries,” could interfere with the nationa’s climate goals.
“Now, most of that is focused on consumer protection,” he said. “The thing that might be getting missed in the mix is the impact on communities and the climate.”
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