FTX’s Collapse Upends Sam Bankman-Fried’s Washington Play

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FTX’s Collapse Upends Sam Bankman-Fried’s Washington Play
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FTX's Washington charm offensive aimed to steer oversight of crypto into the hands of what was perceived to be a friendlier regulator than the SEC

WASHINGTON—Sam Bankman-Fried’s multimillion-dollar Washington charm offensive revolved around a small financial regulator and a group of senators with whom thefound common cause in a bid for light-touch regulation of digital assets.

For FTX, the crypto exchange Mr. Bankman-Fried founded, the goal was to steer oversight of crypto into the hands of what was perceived to be a friendlier regulator than the Securities and Exchange Commission, which

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