Rostin Behnam, chairman of the US Commodity Futures Trading Commission (CFTC), stated that after nearly a year since the collapse of the cryptocurrency exchange FTX (resulting in billions of dollars in losses for customers), "nothing has changed and we may face another FTX-type event." Behnam believes that Congress needs to develop a roadmap, echoing his comments at last year's Senate Banking Committee hearing. He then stated that the CFTC lacks the power to fully regulate the digital commodity market, and in order to prevent this from happening again, Congress must provide appropriate powers to it.