Pat Toomey: “Yes. Cash method accounting tends to be simpler, like you said, and it does provide a lot of incentive.”

I think that there are a number of ways that you can go about creating a regulatory regime to take account of that risk.

There was unauthorized lending of customer assets to an affiliated entity, and there were apparently fraudulent promises to investors and customers about FTX's operations.

Congress can and should offer a sensible approach for the domestic regulation of these activities.

Working Americans are getting poorer every day.