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Here’s what we got for you today:

• FTX EU users can now withdraw their funds

• SEC seeks $2.4B in funding to chase down crypto ‘misconduct’

FTX Launches Withdrawal Website To Pay Back European Users

The European arm of FTX has launched a website to allow European customers to submit withdrawal requests.

The new website has been approved by the Cyprus Securities and Exchange Commission, so it's legit.

Here is the link: https://ftxeurope.eu/

The move comes nearly five months after the collapse and bankruptcy of the parent company (FTX) in November 2022.

Better late than never right? 😀

SEC Seeks $2.4B in Funding to Chase Down Crypto ‘Misconduct’

Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), has expressed his support for President Joe Biden's proposal to allocate a record $2.4 billion in funding to the regulator.

Gary Gensler is not messing around, folks.

He's calling the crypto industry the "wild west" and an industry “rife with noncompliance”.

But Gensler isn't just all talk - he's got the numbers to back it up.

The SEC received more than 35,000 separate tips, complaints, and referrals from whistleblowers and others in FY 2022, resulting in over 750 enforcement actions that led to orders for $6.4 billion in penalties and disgorgement.

And here’s the kicker:

30 of these actions were related to the crypto industry, resulting in $242 million in monetary penalties and represents a 36% increase over the 22 actions announced in 2021.

To keep up with all these actions, Gensler says the funding would enable the SEC to hire 170 new staff, mostly in enforcement and examination divisions.

So, watch out crypto industry, the SEC is coming for you!

That's all we have for today. See you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.