It turned out that FTX CEO Sam Bankman-Fried and FTX’s regulatory team made a visit to the White House in May.
The visit of Sam Bankman-Fried and the FTX regulatory team to the White House draws attention at a time when it was discussed which institution should be responsible for the crypto money market in the United States.
FTX Team’s White House Visit Taken Amidst Controversy
This visit took place when discussing whether the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC) should act as the primary crypto federal regulator in the United States.
The newly released visitor diaries show Bankman-Fried, Eloria Katz, FTX’s director of government relations and policy, and Mark Wetjen, a former CFTC commissioner who is now FTX’s head of policy, visited the White House in mid-May to meet with policy adviser. . The records did not detail what the meetings were about.
FTX currently has a proposal before the CFTC arguing that it should be allowed to directly do certain crypto-related transactions.
Testifying before Congress at the hearing, which took place on May 12, Sam Bankman-Fried has repeatedly stressed that FTX has no plans to go beyond digital assets. It is not yet known when a decision will be made regarding FTX’s proposal to the CFTC.
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