Gensler Talks With Bankman-Fried Now Under US House Probe

February 11, 2023 at 02:10 AM GST 1 min read Exchange News

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.

Since @garygensler won't abide by his own polices to "come in and talk”, the House GOP will hold him accountable. Today, as promised, our oversight of the @SECGov begins with a request for documents surrounding their interactions with @SBF_FTX, @FTX_Official, and @TheJusticeDept pic.twitter.com/cQ9L66I0t5
— Rep. Bill Huizenga (@RepHuizenga) February 10, 2023

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.

Why are there exclusions within this request? Why the dates? We know SBF was meeting with @GaryGensler in March of 2022 (at a minimum) Why are you asking from 11/2022 https://t.co/kJQq7WzChL
— TipsyTiger (Still Tiger Mike) (@TigerMike15) February 10, 2023

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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