2 years ago
The invitation was mediated by erstwhile CFTC Commissioner Mark Wetjen, who joined FTX US arsenic the Head of Policy and Regulatory Strategy successful Nov. 2021.
Own this portion of past
Collect this nonfiction arsenic an NFT
Before crypto speech FTX and its laminitis Sam Bankman-Fried (SBF) got tied down astir allegations of misappropriation of users’ funds, SBF was among the astir influential crypto entrepreneurs. Long earlier FTX collapsed, an allegedly leaked email speech with a apical regulator shows SBF’s intent to get the speech federally regulated.
On May 28, 2022, astir six months earlier FTX filed for bankruptcy and SBF resigned arsenic the CEO, Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg received an invitation to conscionable SBF connected June 13, 2022, Washington Examiner reported. The email was mediated by erstwhile CFTC Commissioner Mark Wetjen, who joined FTX US arsenic the Head of Policy and Regulatory Strategy successful Nov. 2021.
Sam Bankman-Fried's gathering invitation to FDIC Chairman Martin Gruenberg. Source: Washington ExaminerIn the second fractional of the email, Wetjen told Gruenberg that FTX is successful the “unusual presumption of begging the national authorities to modulate us.” He further added:
“We person an exertion earlier the CFTC that lays retired for the bureau however to bash so. All the CFTC has to bash is o.k. it. Once the CFTC does, the others volition travel — the different large US exchanges besides person CFTC licenses.”In effect to the SBF’s request, Gruenberg agreed to conscionable the duo, arsenic shown successful the leaked email below.
FDIC president Martin Gruenberg accepts Sam Bankman-Fried's gathering invitation. Source: Washington ExaminerFollowing the illness of FTX, SBF’s governmental ties were uncovered amid parallel investigations. An FDIC spokesperson confirmed that the FDIC president met SBF arsenic portion of “routine courtesy visits with leaders of fiscal firms and institutions.”
Related: Sam Bankman-Fried to suggest revised bail bundle ‘by adjacent week’
Alongside national investigations, FTX’s caller absorption started conducting interior investigations to way down missing funds.
Sharing the FTX Debtors’ property merchandise conscionable issued: https://t.co/r7PlneGSXF
— FTX (@FTX_Official) March 16, 2023Recent tribunal documents revealed that SBF and 5 different erstwhile executives of FTX and Alameda Research received $3.2 cardinal successful payments and loans from FTX-linked entities. SBF reportedly received the lion’s stock of the funds astatine $2.2 cardinal retired of the lot.
English (US) 