SBF met with Biden aides to discuss crypto policy prior to the fall of FTX

  • Former FTX CEO Sam Bankman-Fried “SBF” has met with White House officials on at least four separate occasions in 2022.
  • Bankman-Fried has given more than $70 million to election campaigns in 18 months, being one of the top political donors in the United States.

Former FTX CEO Sam Bankman-Fried “SBF” has met with White House officials on at least four separate occasions in 2022. According to a Dec. 30 Bloomberg report, SBF met with the president’s adviser, Steven J. Ricchetti, recently 8 september.

However, the meeting was not available in visitor logs. This meeting took place just two months before the cryptocurrency exchange crash.

SBF previously met with political adviser Charlotte Butash on May 13, 2022.

What did the White House meeting with Sam Bankman-Fried entail?

No political discussion reportedly took place during the meeting. Instead, he focused on the cryptocurrency industry and cryptocurrency exchanges. The news caused quite a stir among members of the crypto Twitter community, curious as to why there have been so many meetings between SBF and White House officials.

A Bahamian resident, Bankman-Fried, has reportedly visited Washington several times to influence cryptocurrency policy. He had previously been accused of trying to steer regulators away from centralized cryptocurrency exchanges like FTX and towards DeFi platforms like MakerDAO.

Political donations worth more than $70 million

Bankman-Fried has donated more than $70 million to campaigns in 18 months. SBF has been a major political donor in the United States. He gave at least $40 million to politicians and political action committees in the run-up to the 2022 midterm elections, mostly to Democrats. SBF has also made significant contributions to fundraising committees and PACs on both sides.

Bankman-Fried has made the maximum individual contribution of $5,800 to more than a dozen congressmen, including Michigan Democrat Debbie Stabenow and Arkansas Republican John Boozman who chairs the Senate Agriculture Committee. The Committee plays an important role in the regulation of cryptocurrencies in the United States. The aforementioned members jointly introduced a bill this year that should give FTX a path to regulatory compliance in the United States.

In an interview with crypto vlogger Tiffany Fong on Nov. 16, Bankman-Fried admitted she’d given roughly equal amounts to both parties, but her Republican donations were obscure.

The Bahamian Securities Commission released a statement to the media on Dec. 29, in which it said it held $3.5 billion worth of client assets. The assets will be held until the Supreme Court directs the Commission to hand them over to the customers and creditors who own them.

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