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What you need to know: FTX CEO John Ray testimony before Congress, SBF denied bail
CEO of FTX Group, John Ray, testifies before Congress about FTX collapse. Chairwoman Maxine Waters leads the hearing.
Josh O'Sullivan 6 min read North America News
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Josh O'Sullivan 6 min read 
Adoption
15% of US citizens made crypto transactions as of mid-2022
Men, Asians and higher-income youth have the highest crypto adoption.
Regulation
Canada bars exchanges from margin, leverage trading; says stablecoins might be securities
Canada's fiancial regulator told crypto exchanges to hold their Canadian clients’ assets with a custodian and also segregate these assets from their business.
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Featured
SBF claims law firm Sullivan & Cromwell pressured him into bankruptcy filing for legal, consultancy fees
SBF planned testimony released in light of arrest in Bahamas prior to U.S. House of Representatives testimony.
Legal
CFTC suing SBF, FTX and Alameda for commodities law violations
The CFTC claims in its complaint that SBF ordered FTX executives to create features in the exchange's code that allowed Alameda to have "an essentially unlimited line of credit on FTX."
Macro
Bitcoin spikes to $18,000 on better than expected CPI data
The price of Bitcoin jumped to $18,000 on news of better than expected consumer inflation data.
DAOs
Courts orders the CFTC to serve lawsuit to Ooki DAO’s original founders
Judge William Orrick said that there was no point indicting all Ooki DAO members when its original founders Tom Bean and Kyle Kistner are known.
Featured
FTX CEO John Ray blames collapse on ‘inexperienced and unsophisticated individuals’ in testimony following SBF arrest
A Dec. 12 press statement by the Bahamas Attorney General revealed that the U.S. government had filed criminal charges against SBF and is likely to request extradition.
Bankruptcy
FTX debtors attempt to seal corporate identities to obfuscate bankruptcy proceedings
The U.S. Trustees have filed a claim asking the court to deny Debtors' request to seal individual and legal entities information.
Latest North America Crypto News Headlines
Adoption
Senator Lummis ‘comfortable’ including Bitcoin in retirement funds amid bear market
Mining
Unpredictable electricity cost could have caused Argo’s troubles
Analysis
Genesis Block customer funds sent directly to Alameda accounts before FTX fall out
Exchanges