One month prior to the catastrophic collapse, prominent crypto investors accused FTX founder Sam Bankman-Fried of “quietly lobbying” regulators. For well over a year, the former billionaire offered various suggestions, in interviews and in policy papers, as to how D.C. officials might police the nascent industry.
Legislative influence runs in the family. His father, Joseph Bankman, is a leading tax law scholar at Stanford University while his mother, Stanford law professor Barbara Fried, had helped raise tens of millions for Democratic Party candidates.
Today, we see many top U.S. officials, including Treasury Secretary Janet Yellen and Securities and Exchange Commission (SEC) Chair Gary Gensler, pushing to strengthen crypto legislation to protect consumers….