© Reuters
Investing.com – The impending bankruptcy of FTX and its entire corporate network of CEO Sam Bankman-Fried now also raises the question of management’s relationship with SEC Chairman Gensler.
The distrust is so great in this context that CryptoLaw went directly to Congress with a petition. It could be that Gary Gensler is more deeply involved than he would like in “one of the biggest scams in American history”.
According to CryptoLaw founder John E. Deaton, a personal meeting between Gensler and Sam Bankman-Fried took place shortly before the collapse of FTX.
Caroline Ellison, CEO of Alameda Research, may even have a friendly relationship with the SEC Chairman. According to @JagoeCapital, his father was head of the economics department at the Massachusetts Institute Of Technology (MIT). At the time, Gensler was employed there as a teacher.
FTX US Political Department Director Mark Wetjen also seems to know Gary Gensler well. According to FOX Business reporter Eleanor Terret, Wetjen worked at the Commodity Futures Trading Commission (CFTC) under Gary Gensler. As part of his duties, Wetjen would have opened more than one door in Washington for Sam Bankman-Fried.
MP Tom Emmer, who is also a member of the Sub-Committee on Investor Protection and Capital Markets, has already been made aware of these actions:
“…Reports forwarded to my office indicate that he helped SBF and FTX find legal loopholes to create a regulated monopoly.”
When Binance CEO Changpeng Zhao sounded the death knell for FTX by saying it was selling its FTT tokens worth over $500 million, he spoke about how he could no longer support Sam Bankman -Fried (SBF). To justify his decision, he indicated that SBF was lobbying against the rest of the cryptocurrency market. We begin to understand what he meant exactly.
By Marco Oehrl