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Sam Bankman-Fried expressed optimism about crypto regulations months before FTX’s collapse

Hester Perce, SEC Commissioner joins “The Claman Countdown”, to examine the FTX crash, and how fast cryptocurrency regulation policy will get implemented.

His attempts to influence regulation in the crypto industry were highlighted by the collapse of cryptocurrency exchange FTX and allegations against Sam Bankman-Fried of financial improprieties. He made comments on the topic several months before the implosion.

For months, Congress and the Biden administration had been discussing new regulations for cryptocurrencies and how to oversee them. Bankman-Fried was interested in supporting candidates he believed would support rules favoring FTX once elected.

 

According to campaign finance records, Bankman-Fried contributed at most $37 million in the 2022 election cycle. Nearly all this money was donated to PACs supporting Democratic candidates.

 

Sam Bankman Fried, founder and chief executive at FTX, speaks during a hearing of the Senate Agriculture, Nutrition and Forestry Committee in Washington, D.C., 02/09/2022.

 

Bankman-Fried said that he was optimistic about the progress in cryptocurrency regulations during the next year ten month prior to FTX’s fall. January 11, 2022.

Interview with Sam Bankman Fried, Fox Business (Jan. 11, 20022).

Sam Bankman Fried will be joining “The Claman Countdown” to discuss bitcoin sales and the future.

 

Liz Claman, Liz Claman’s host, asked Bankman Fried if he was open to purchasing more crypto assets like bitcoin, while the SEC “holds regulatory over the crypto markets as a sword.” Damocles.” Damocles”

 

Bankman Fried replied, “I’m optimistic that over time we will see some really significant advances in the global regulatory environment and the U.S. regulation space for cryptocurrency.”

I believe there’s a light at the end of this tunnel. He stated that simple policy proposals could help regulators and allow cryptocurrencies to grow in value as an asset class that moves liquidity onshore.

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