Former FTX CEO Sam Bankman-Fried reportedly had at least four meetings this year with senior White House officials, including President Joe Biden’s senior advisers Steve Ricchetti and Bruce Reed.
FTX CEO Sam Bankman-Fried Had Multiple Meetings With White House Advisors
These meetings, which took place in April, May and September of this year, were Bankman-Fried’s cryptocurrency It was part of his efforts to influence policy and build connections in Washington.
In addition to these meetings, Bankman-Fried’s brother, Gabriel Bankman-Fried, also attended at least one meeting, bringing the total number of meetings attended by one or both brothers to at least five this year.
The meetings focused on pandemic prevention issues related to the cryptocurrency industry and exchanges, as well as the foundation called Guarding Pandemics, led by Gabriel Bankman-Fried.
Bankman-Fried is currently facing criminal charges for his role in the collapse of the cryptocurrency empire, which has left investors facing billions of dollars in potential losses.
Before the collapse, Bankman-Fried was a frequent visitor to Washington; He was testifying before Congress, meeting with key regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission and White House officials.
Despite his current legal issues, Bankman-Fried was once a vocal advocate of greater regulation in the cryptocurrency space, positioning himself and his companies as ethical actors in the industry.
But U.S. prosecutors are now making a number of allegations of misconduct, including the alleged use of corporate money and fictitious donors for political donations, and the alleged misappropriation of billions of dollars in client funds lent to FTX’s sister company, Alameda Research.
*Not investment advice.
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