Regulators cracking down on US crypto firms after FTX's liquidity meltdown "makes no sense," since most crypto trading activity takes place offshore, according to Brian Armstrong. "The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore," the Coinbase CEO said in a tweet on Wednesday, responding to a call from US Senator Elizabeth Warren for more aggressive regulation on crypto. "Punishing US companies for this makes no sense," he added. Crypto markets have been shaken since the announcement that Sam Bankman-Fried's FTX ... (full story)