FTX co-founder Sam Bankman-Fried dined with an ex-CFTC official who’s now with the SEC, two agencies that have since cited SBF for fraud.
, a door that had been spinning so fast it was enough to make your head spin. You have former officials from the U.S. treasury department, CFTC, SEC, and more coming into the likes of Binance, Coinbase, Astra Protocol, and other crypto-minded financiers like venture capital firm a16z.
Despite this alleged chummy-ness between crypto players and the people meant to regulate the industry, both the SEC and CFTC have filedagainst Sam Bankman-Fried. Both agencies have alleged the FTX founder committed fraud by allowing an “unlimited line of credit” between the crypto exchange and his sister hedge fund company Alameda Research.
a separate entity, regulators alleged he was still nominally in control of both FTX and Alameda, and had been funneling users’ crypto to the hedge fund.Gizmodo reached out to the CFTC for comment but we did not immediately hear back. Berkovitz, the guy who helped organize the dinner with SBF and crypto regulators, is now general counsel for the SEC.
ith FTX officers, though he further claimed all those meetings were over creating a crypto clearing house. He further lauded LedgerX as so sound because it was regulated by the CFTC.U.S.
muscles. Though that does little for the investors who have collectively lost billions of dollars just this year from
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