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US Senate Banking Committee to Hold ‘Crypto Crash’ Hearing This Month
Committee Chairman Sherrod Brown announced the hearing on digital assets safeguards for Feb. 14.
Updated Feb 3, 2023, 4:41 p.m. Published Feb 3, 2023, 2:55 p.m.
The crypto industry’s 2022 dramas will again fall under the U.S. Senate’s microscope this month when the Senate Banking Committee holds a Feb. 14 hearing to examine financial system protections from the dangers seen in digital assets.
The panel is calling the Valentine’s Day hearing “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets,” according to a hearing schedule released Friday. Its position as one of the first issues to be addressed by the lawmakers demonstrates the urgency of crypto issues in Congress.
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Chairman Sherrod Brown (D-Ohio) indicated in a November letter to Treasury Secretary Janet Yellen that he wants to begin a serious effort toward U.S. government oversight of crypto. The committee’s new ranking Republican, Sen. Tim Scott (R-S.C.) said in a statement on Thursday that the members “should work to facilitate a bipartisan regulatory framework.”
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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U.S. Senate's Crypto Market Structure Bill Gets Messy as Calendar Weighs Down
The White House has shut down proposals, and lawmakers are circulating the Democrats' asks in what had been a close negotiation, revealing 11th-hour pressure.
What to know:
- Democrats shared a response to Republicans outlining their continuing priorities for a crypto market structure bill, which they said was intended to "reach an agreement and proceed towards a mark-up."
- The document laid out concerns with financial stability, market integrity and public officials' ability to trade and profit off of crypto, echoing concerns laid out in a framework Democrats shared in September.
- The Senate is running out of time in the Congressional calendar to hold a markup hearing — a key step toward progressing the bill — before 2025 ends.
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