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crypto regulatory shifts and high-profile legal battles shape the landscape
The CFTC's enforcement director Ian McGinley will leave the agency on Jan. 17, just days before Donald Trump's inauguration, amid a shift in regulatory focus towards the crypto industry. Meanwhile, decentralized exchange Mango Markets is winding down operations after a settlement with the SEC, and New York's Attorney General is pursuing over $2 million in crypto fraud cases. Additionally, FDIC Vice Chair Travis Hill criticized the debanking of crypto firms, advocating for a new direction that supports law-abiding customers.
fdic reports 68 us banks at risk of insolvency amid significant losses
The FDIC reports a rise in the number of US banks on its "Problem Bank List" to 68, reflecting ongoing financial challenges. Despite a temporary decrease in unrealized losses to $364 billion, the chair warns that rising long-term interest rates could exacerbate these losses, with significant risks from inflation and market volatility persisting.
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