Sam Bankman-Fried and FTX Executives Visit White House As Regulatory Battle Continues

FTX CEO Sam Bankman-Fried and executives of the crypto alternate visited the White Home earlier this yr amid an ongoing debate on which US regulator ought to take cost of the digital belongings business.

Newly launched customer logs of the White Home show that Bankman-Fried, plus FTX director of presidency relations and coverage Eloria Katz and FTX head of coverage and former Commodity Futures Buying and selling Fee (CFTC) commissioner Mark Wetjen, met with coverage advisor Charlotte Butash and counselor Steve Ricchetti on Might thirteenth.

Bankman-Fried’s youthful brother, Gabriel, director of Guarding Towards Pandemics (GAP), which works to enhance the federal government’s response to pandemics, was additionally at one of many conferences. 

It’s unclear what the discussions had been about, however happened because the U.S. Securities and Change Fee (SEC) grapples with the CFTC over which company ought to oversee the crypto business. 

In April, FTX sought the approval of the CFTC to switch its derivatives clearing group (DCO) license so it might provide US clients a non-intermediated mannequin of crypto derivatives buying and selling.

The report of Bankman-Fried’s go to to the White Home comes because the crypto billionaire establishes a reputation as a significant political spender. As of this week, Shield Our Future, the tremendous PAC (political motion committee) that he funds, already spent over $24 million in Democratic Home primaries nationwide.

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