Rostin Behnam, chair of the Commodity Futures Trading Commission, emphasized the dangers of an unregulated crypto market and the need for legislation during an invitation-only crypto event at Princeton University.
After this month’s collapse of FTX, Behnam’s CFTC has faced criticism for its ties to the exchange and founder Sam Bankman-Fried, who estimated that his firm spent “tens of thousands” of hours speaking with the commission about a controversial proposal to allow users to make trades with money borrowed directly through FTX, rather than a broker.
