Blockchangers Blog

Weekly Wrap Up #69

Quote of the week: “Lately it’s probably been 70-80% of what we talk about…We are clearly in a situation where we need to stop, we need to gather the facts, we need to understand what’s happening […] to move policy ahead… We are getting to the point that maybe we are past the education stage and now it’s the action [stage]”… But it’s an interesting political question because it isn’t partisan issue.” – Summer Mersinger, United States Commodity Futures Trading Commission (CFTC) Commissioner. Source:  Cointelegraph

Alpha Sigma Capital Research Spotlight on Defy Trends:  Defy Trends provides AI and data-backed information so you can spend less time searching and more time making informed cryptocurrency investment decisions. Join Alpha Sigma Capital Research for a live (zoom) “Ask Me Anything” session with Imge Su Cetin, CEO, Thomas Modeneis, CTO, and Elena Garidis, CFO, on Thursday, December 1 at 11 AM ET. You can Register Here.

FTX Update: The new team at FTX has put together a team of investigators, including former enforcement officials with the Securities and Exchange Commission, Commodity Future Trading Commission, and former prosecutors, and the company has retained cryptocurrency analytics firm Chainalysis to help it investigate the holdings of FTX.   The United States Senate will hold its FTX hearing on December 1, where the CFTC chairman will testify. The United States House Financial Services Committee announced that it has plans to hold a hearing in December to investigate the sudden collapse of FTX. Sources: FXEmpire and Coindesk

Tornado Cash Developer will Remain in Jail Until February at the Very Least: 

Tornado Cash Developer Alexey Pertsev has been held in detention since August after the United States Treasury used sanction powers against the Tornado protocol, which was accused of laundering billions of dollars worth of cryptocurrencies. On Tuesday, Dutch public prosecutors announced the money-laundering charges for the first time and accused Pertsev of facilitating the processing of dirty money by writing the code of Tornado Cash. Pertsev has been ordered to stay in jail until at least February, as he poses a flight risk.  Source: Coindesk

Genesis Hires Restructuring Advisor:  Cryptocurrency lending company Genesis was severely impacted by the collapse of FTX but denies ‘imminent’ plans to file for bankruptcy should it fail to cover a $1 billion shortfall. This week, the company hired investment bank Moelis & Company to explore its restructuring options.  Source:


Bank of Japan Will Trial Digital Yen:  Japan has announced its decision to continue experimenting with a potential digital Yen and the Japanese central bank has started a collaboration with three megabanks and regional banks to conduct a central bank digital currency (CBDC) issuance pilot. Part of the pilot will consist of the Bank of Japan cooperating with major private banks and organizations to detect and solve any issues related to customer deposits and withdrawals on bank accounts. The central bank of Japan will continue the experiment for two years and make a decision on whether to issue a digital currency by 2026. Source: Cointelegraph

New York Limits Cryptocurrency Mining:  This week, New York Governor Kathy Hochul signed a two-year cryptocurrency mining moratorium into law. The new law sets a two-year moratorium on new and renewed air permits for fossil fuel power plants used for proof-of-work cryptocurrency mining. A memo for the bill stated, “The law will prohibit Environmental Conservation Law permits from being issued for two years to proof-of-work cryptocurrency mining operations that are operated through electric generating facilities that use a carbon-based fuel.”   Source:  Marketwatch

Jordana Cohen,


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Daniel Siciliano

F. Daniel Siciliano is an Independent Director of the Federal Home Loan Bank of San Francisco and Chair of the American Immigration Council. He is the former faculty director of the Rock Center for Corporate Governance at Stanford University and former Professor of the Practice and Associate Dean at Stanford Law School. His work has included expert testimony in front of both the U.S. Senate and the House of Representatives and for 2009, 2010, and 2011, alongside leading academics and business leaders such as Ben Bernanke, Paul Krugman, and Carl Icahn, Professor Siciliano was named to the “Directorship 100” – a list of the most influential people in corporate governance.

Siciliano was also co-founder, CEO and ultimately Executive Chairman of LawLogix Group, Inc. – a global software technology company named 9 consecutive times to the Inc. 500/5000, several times ranked as one of the Top 100 fastest-growing private software companies in the US and named to the US Hispanic Business 500 (largest) and Hispanic Business 100 (fastest growing) lists for 2010 and 2011. In 2012 he sold a majority stake of the company to PNC Riverarch Capital, continued as Executive Chairman, and led the sale of the company to Hyland Software/Thoma Bravo in 2015.

Siciliano is a co-founder and board member of the Silicon Valley Directors’ Exchange (SVDX), Chairman of the national non-partisan American Immigration Council, past-President of the League of United Latin American Citizens (LULAC) Council #1057, and an active member of the Latino Corporate Directors’ Association.

Siciliano’s related areas of expertise include executive compensation, corporate compliance, the legal and social impact of autonomous (AI/robotic) systems, and corporate technology strategy and security. He has served as a governance consultant and trainer to the Board of Directors of dozens of Fortune 1000 companies (including Google, Microsoft, Fedex, Disney, Entergy and Applied Materials), is an angel investor and consultant to several firms and companies in Silicon Valley, Hong Kong, India, and Latin America, and currently serves as an independent director on the board of the Federal Home Loan Bank of San Francisco. He lives in Los Altos, California.