News Snapshot:
The arrest of CEO Sam Bankman-Fried may be the smaller news story coming out of the collapse of FTX. Politicians will miss the point surrounding the massive political donations of the company and instead push for simplistic solutions to a complex issue. Ultimately, the collapse of the crypto company could lead to onerous federal regulations and the establishment of a federal “digital dollar.” The FTX issue isn’t large enough, under normal circumstances, to push through such dramatic banking and financial changes, but it is clear that those at the Federal Reserve and many in Congress have been salivating for such...
