RABIT Weekly News (W4 December 2022)
- Concerns over Tether’s fiscal soundness are growing as some hedge funds short-betted based on the price fall of Tether. Tether revealed its plan to suspend secured loans by 2023, denying the media report that there were insufficient current assets.
- The need for virtual asset regulation is rising on the surface. The U.S. Financial Stability Board and the SEC urged regulations on virtual assets and reported that a comprehensive regulatory framework is needed. The chairman of the SEC stressed the need for a strict licensing system for cryptocurrency companies.
- FTX founder SBF was arrested in the Bahamas, expecting to stand a trial in the U.S.A. He will soon be repatriated to the U.S., and the trial is expected to be accelerated.
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