Oof. Crypto can’t catch a break.
The collapse of FTX must have been the final straw for the SEC. Some new guidance came out yesterday, specifically related to crypto and corporate public filings.
The SEC pushed out a Sample Letter to Companies Regarding Recent Developments in Crypto Asset Markets
In a nutshell, the SEC wants companies to report some additional details with their public filings:
- Describe how any cryptocurrency bankruptcies have impacted their business directly or indirectly.
- Include exposure to cryptocurrency assets and holdings.
- Include exposure, if any, to FTX’s bankruptcy and any other major market developments.
The full letter contains 16 points the SEC wants more information on.
And speaking of the FTX collapse, Sam Bankman-Fried says he’s willing to testify at a U.S. House hearing, even though he missed the response deadline. Whether or not that happens remains to be seen, but he’s sure spending a lot of time in the media these days…