Finst

Bitcoin is the only commodity

Following the collapse of FTX, CFTC CEO Rostin Benham has changed his view on Ethereum.

By Finst News
• 3 min read
Bitcoin is the only commodity

Due to the collapse of FTX, the CFTC CEO Rostin Benham has changed his stance on Ethereum. Going forward, he sees only Bitcoin as the one true commodity. This was reported by Fortune following a crypto event at Princeton University.

Benham highlighted the dangers of an unregulated crypto market, pointing to FTX's collapse and stressing the need for legislation. He further stated that Bitcoin is the only cryptocurrency that should be treated as a commodity.

While the CFTC chair praised the agencies' cooperation, he called the "matrix of regulators" an imperfect system. By late October, the SEC and the CFTC were at odds over Ethereum. How his remarks will ultimately influence future regulation of the crypto market and Ethereum remains to be seen.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.