CFTC Chair: Agency Still Lacks Authority to Prevent an FTX-Sized Collapse

The chairman of the Commodities Futures Trading Commission (CFTC), Rostin Behnam, expressed concerns about the CFTC's ability to prevent another collapse similar to FTX. He stated that nothing has changed since last year and that the regulatory landscape remains unchanged, leaving the market vulnerable to similar events. Behnam emphasized that the CFTC's oversight is limited to derivatives and it can only take action against fraud or manipulation once it has been reported.