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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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Citadel Securities and DeFi Waging War of Words Through SEC Correspondence
The investing giant had asked the U.S. Securities and Exchange Commission to treat DeFi players like regulated entities, and the DeFi crowd pushed back.
What to know:
- A feud conducted over U.S. Securities and Exchange Commission (SEC) correspondence has developed between Citadel Securities and the DeFi sector, arguing over whether DeFi protocols should be more regulated.
- The DeFi space is calling out the investment firm for its approach to the securities regulator.
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