The bank postponed its quarterly earnings report and warned of a $27.5 million loss tied to troubles in its digital- asset mining loan portfolio.

FTX co-founder Samuel Bankman-Fried, one of his related companies and two other top executives at the collapsed cryptocurrency exchange received massive loans from an affiliated trading arm, Alameda Research, according to a bankruptcy court filing Thursday.

The embattled cryptocurrency mogul Sam Bankman-Fried is undermining efforts to reorganize his crumbling empire with "incessant and disruptive tweeting" that appears aimed at moving assets away from the control of a U.S. court in favor of one in the Bahamas, U.S. lawyers for the bankrupt crypto platform FTX said in a court filing.

Financial Services Committee Chair Maxine Waters and the panel's top Republican, Rep. Patrick McHenry, pressed bank regulators to support bipartisan stablecoin legislation and other efforts to toughen standards for cryptocurrencies in the aftermath of the FTX collapse.

The cryptocurrency lender BlockFi is preparing to file for bankruptcy within days, according to people with knowledge of the matter who asked not to be named because discussions are private.

Despite the massive losses and growing criticism that the industry is rife with fraudsters and Ponzi schemes, a dozen industry employees interviewed by Bloomberg News said that while they're rattled by the crisis, they remain committed to crypto and its potential.

While many of the details around FTX's remarkable collapse will only be revealed as it progresses through bankruptcy, interviews with FIA conferencegoers this week show they're facing a reckoning of their own.

The fall of a major cryptocurrency exchange and subsequent drop in digital currency prices represent an opportunity to some bankers, who say investors and businesses will turn to regulated companies for crypto help.

The Federal Reserve's vice chair for supervision, in his first appearance before Congress since being confirmed, testified that the banking industry has been spared so far from the chaos in cryptocurrency markets. But he warned that too little is known about nonbank activities that could "blow back" to the regulated financial system.

Republicans and Democrats have made constructive inroads toward drafting a stablecoin bill this Congress. The next Congress needs to build on that progress — and think bigger.