Since SEC is a regulating authority, shouldn't it its decisions be approved by both senate and congress before going public which seems hard to me since they belong to two different parties now?
Generally speaking, Federal Government agencies such as the SEC are run by the executive branch, but they have been established by statute that was passed by the two branches of congress.
Of course, congress can pass laws to change the mandates of various agencies and such new laws would need to be signed by the executive (president).
Yes, a lot of these matters come off as political because the various agencies will be under pressure regarding if they are exceeding their mandates or if congress or the executive want to change the ways that agencies are run through a variety of tactics, so surely sometimes agencies become overly political too.. because they sometimes are under scrutiny rather than just following their various mandates that may even be internally established within each agency and the agencies are subject to court review, too... and of course, popular pressures and popular input - which is sometimes taken into account (it is supposed to be taken into account) and sometimes popular pressures are skirted too.
But the world does care about the US financials including SEC... and FED's hikes clearly show it... unfortunately...
Sure.. the whole world might say that they do not care about the US financials, such as SEC, FED hikes etc.. but there are still plenty who follow and use as guidelines.. so your assertion of purportedly "not caring" comes off as mostly lip service rather than actual practices and factual happenings.
Then again, I also wondered whether causing an exchange like FTX to collapse could also backfire in many regards concerning his own exchange. People withdrawing assets en masse, massive push for harsh regulation, also massive push for innovation in the DEX space etc.
I doubt that CZ caused FTX to collapse, and it is a good thing that FTX did collapse, since it was quite apparent that they did not have assets to back up their bullshit token, or whatever else they were using to look like assets when they were stealing customers funds and otherwise gambling with customer funds.
Fuck FTX and any attempt to blame CZ for their collapse.. that's bullshit. FTX caused its own collapse, and it should not have gotten that BIG in the first place.
Regarding whether Binance is solvent, sell your BNB and withdraw all your funds. Let's see what happens.
Guess what? Probably nothing is going to happen, since Binance likely was not doing anything even close to as shady as what FTX, SBF and other FTX stooges/criminals were doing.. and still I have not heard of any of the FTX folks getting arrested yet.. even though the evidence is pretty damned clear that they were stealing customer funds... on a broad level, not even just some reasonable amount .. like 30%.. it was way higher stealing levels than that... or do you want to say that they just borrowed the customer money so they could trade with it or buy houses for SBF's parents? or whatever other secret bullshit they were doing with the money that we have not even heard about yet?
The funny thing is my guess is he saw Bankman pulling the same shit he did with BNB and wanted to get him before he was able to make his shitcoin FTT market cap liquid enough to survive.
Don't kid yourself.. SBF had no intention of keeping their company solvent. SBF and fellow scammers were busy buying other companies (or entering into "arrangements") in order that they could keep stealing customer funds, while making it appear as if they were solvent.
But he has forgotten the glass houses and started a shit storm that has gone deeper into alphabet agencies than he counted on and he may not make it himself.
It's true that the ramifications of FTX falling could affect Binance and CZ.. but I doubt that CZ and Binance are as worried as you are making them out to be or that they are as insolvent as you are making them out to be.. but hey, I don't claim to know much of anything except that CZ has been going through attacks since he started too.. but he had been around a bit longer than SBF and from my viewpoint, CZ also seemed to have been engaging in way more legitimate practices than SBF... .
SBF was public because he was a phoney and using influence and appearance of credibility to cause BIGGER sponsorship and investors.. but he was scamming the whole time. The evidence seems to be showing more and more that SBF was not even trying to run a legitimate operation.. a bunch of fucking kids.. with dumb ideology too and sucking regulator dicks to try to gain influence. while stealing money from their clients the whole time..... the FTX guys should be locked up.. but they are not .. instead you and some of the other folks here worried about CZ blah blah blah.. we don't have that kind of evidence on CZ.. .. so too premature.. and better to stay focused on what we know and locking up the FTX criminals instead of losing focus.
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