James Atkins
Editor
Editor
In an interview today with CNBC, Congressman Patrick McHenry states that the former CEO of FTX attempted to buy Washington. He was asked about FTX’s influence in Congress when he made this statement.
When asked if SBF corrupts politicians in Washington by donating money to them, McHenry says;
“He attempted to bribe Washington. And if you investigate his interview with Vox, it’s clear that he’s a skilled world-class wheeler-dealer. He was trying to establish light-touch regulation for his platform.”
The Congressman states that he is looking for a way. To make sure that consumers are not taken advantage of by companies like FTX or Sam Bankman-Fried.
A few hours ago, SBF was arrested in the Bahamas. As he prepared to appear before the United States House Committee on Finance Services. When asked about why he was being arrested now, McHenry says;
“SBF has not shown himself to be a reliable witness in his short career. I don’t think he will expose the world or Congress to some deeper insight. However, I think it was important that he testify and further the process of what happened.”
The SEC has charged SBF with defrauding FTX investors, which will protect those who invested in the platform. But, not necessarily the customers who had money on it.
When questioned about the specific SEC charges. McHenry says that the absence of clear laws about digital assets and cryptocurrencies makes it difficult for regulators to argue cases effectively.
He goes on to say that while regulatory agencies have regulations in place for commodities and equities, none yet exist for digital assets. He adds that;
“In the current regulatory landscape, digital assets are falling through the cracks. As the next chair of the House Finance Services Committee, it will be my focus to provide Congress with a clear law so that regulators can do their job.”
Michael Saylor, the MicroStrategy executive chairman claims in an interview earlier this month. That he thinks the FTX fiasco was deceitful and illegal from its initiation.
Mike Novogratz states that SBF is delusional about what happened with FTX and his role in the cryptocurrency exchange’s downfall.
SBF is a controversial figure in the cryptocurrency space. He is known for his aggressive tactics and willingness to employ unethical or even illegal methods to achieve his goals.
He has been implicated in several major scandals in recent years, including the downfall of FTX, one of the leading digital asset exchanges. Despite this controversy, SBF remains a powerful player in the industry, with significant influence over many of the major players in the space.
After FTX closed down unexpectedly last year. SBF was accused of trying to bribe Congressman Patrick McHenry to help cover up his role in bringing down the exchange.
In a leaked email, SBF offered McHenry $1 million “in cryptocurrency or USD” if he would agree to drop; an investigation into SBF and FTX. McHenry refused, and SBF was eventually brought up on charges by the SEC for his role in the scandal.
SBF is a powerful and influential player in the crypto industry. But its reputation has been tarnished by the recent controversy involving FTX. Despite this, SBF remains a key player in the space, and it will be interesting to see how its influence continues to evolve.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
