Weekly Roundup
Volatility
It was reported that volatility has effectively doubled since the beginning of January.
SEC Urges Vigilance, Stress Tests
The SEC warned broker dealers and participants in the markets to “remain vigilant to market and counterparty risk” amid heightened volatility and global uncertainties.
CFTC Surveillance
CFTC Chair Rostin Benham spoke at an industry conference this week about CFTC staff acting as a strong cop on the beat with market surveillance, noting that staff are “surgically focused on their analysis of trading for any manipulative, inappropriate, or disruptive conduct.”
SEC Cybersecurity Disclosures
Dan Berkovitz, General Counsel, SEC, and former CFTC Commissioner, spoke about mandatory cybersecurity disclosures.
Soaring Crypto Exchange Revenue
A report suggested that crypto exchange revenue soared 600% in 2021, surpassing the rate of revenue growth of traditional exchanges
New Options Exchange
The exchange MEMX will reportedly launch an options exchange.
Bitcoin ETF
The SEC rejected NYDIG Bitcoin ETF and Global X Bitcoin Trust listing proposals.
Source Code Theft
Vodafone is investigating source code theft claims.
In the Mix: This Week’s Top FinTech Thought Leader
- Democratic SEC Commissioner Lee will leave the SEC after the term ends in June.
- Sam Bankman-Fried, CEO, FTX, interviewed Alex Rodriguez, Chairman and CEO, A-Rod Corp, during a panel on market trends and investment opportunities.
- Troy Paredes, Former SEC Commissioner, spoke about building market structure infrastructure of the future and trading in the cloud.
- Offering a counterpoint to crypto maximalists, Paris Marx published an op-ed in Insider entitled “Why Web3, the Blockchain and Crypto Internet, Is Doomed to Fail.”