Senator Stabenow notes observer called Ledger X solid despite gaping hole in crypto regulation

Senate Agriculture Committee Chair Debbie Stabenow says at hearing with Commodity Futures Trading Commission Chairman Rostin Behnam that John Ray the CEO appointed to navigate the FTX bankruptcy said that Ledger X has a solvent balance sheet and responsible management, Customer money was safeguarded and accounted for which proposed legislation would replicate for digital commodity markets and if in law FTX conduct would have been illegal and could have been prevented, so Congress must act to hold this industry to the same rules as traditional financial institutions and close gap but gaping holes in regulations or else consumers will continue to be harmed and hardworking Americans will continue to lose billions of dollars at the hands of bad actors like FTX.