Congress to hold hearing with execs from Coinbase, FTX, Paxos and others
December 1, 2021, 2:06PM EST
1 min read
On December 1, Maxine Waters, who chairs the House Financial Services Committee, announced the witness list to a hearing on cryptocurrencies, which will be heavy on executives from leading U.S. crypto firms.
Scheduled for December 8, the hearing is entitled "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States."
The witnesses are CEOs from leading crypto firms: Circle's Jeremy Allaire, FTX's Sam Bankman-Fried, Bitfury's Brian Brooks, Paxos' Chad Cascarilla, Stellar's Denelle Dixon and Coinbase's Alesia Haas.
Interestingly, Coinbase's global CEO, Brian Armstrong, will not be appearing, despite the firm being in the crosshairs of legislators and regulators looking to clamp down on crypto.
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Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.