- The US Congress has now begun its probe into SEC’s interactions with FTX.
- Congress now demands that Gary Gensler hand over documents detailing his talks with SBF.
- The documents requested are from November 2022, right in the epicenter of the FTX collapse.
Michigan Rep Bill Huizenga announced that the US Congress is now demanding Gary Gensler, chief of The Securities and Exchange Commission (SEC), hand over the documents pertaining to his interactions with fallen FTX CEO Sam Bankman-Fried (SBF).
Huizenga promised that Congress will “hold him accountable” by officially launching a probe into Gensler’s dealings with FTX. This begins by demanding the above-mentioned documents.
Many people expressed their approval and support, with some notable people commending Huizenga and the rest of Congress.
However, the documents requested date back from November 2022, right in the epicenter of the FTX collapse. Some pointed out that Gensler has been meeting Bankman-Fried since March of last year.
Gensler and the rest of the SEC have been hot in pursuit of crypto firms since early 2017 when Bitcoin (BTC) reached around $20,000 in price. However, the securities watchdog has been criticized by many as biased, while some have gone further by claiming that it is corrupt.
In fact, SEC Commissioner Hester Peirce, dubbed ‘Crypto Mom’ for her support of crypto, has criticized her very own organization for some of its decisions. Recently, Peirce expressed disappointment with the SEC forcing Kraken to close its staking program in the US.
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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.
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