A group of Democratic Senators, including Jack Reed and Laphonza Butler, have formally requested the Securities and Exchange Commission (SEC) to halt the approval of future crypto exchange-traded products (ETPs), including spot crypto ETFs, citing "enormous risks". A FINRA survey revealed that 70% of broker communications potentially mislead investors about the risks of cryptocurrency, violating disclosure regulations. Concerns over misleading crypto marketing and the silence from the SEC on Ether ETFs were highlighted. Paul Grewal of Coinbase responded to volatility concerns, specifically addressing ether. The senators' push emphasizes the perceived risks in crypto markets, particularly spotlighting issues such as poor disclosure and thin liquidity.