In this case: major finance players are top dogs in Albany politics (along with other FIRE economy and pharma). Their input most certainly has influenced and is influencing both investigations (or lack thereof) into criminal activity in big banks and other financial institutions, as well as into crypto-blockchain tech.

Some big players probably want more robust assurance that their crypto assets are protected. Others probably want to create pain in the space either because they hold a short position or because they have fear of losing their regulatory capture.

But acting like there is no relationship between the (absence of meaningful) investigations into NY finance and this news is unhelpful.