{"id":1900845,"date":"2023-03-19T05:15:40","date_gmt":"2023-03-19T09:15:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-scored-meeting-with-top-regulator-tried-to-win-influence-before-collapse-emails\/"},"modified":"2023-03-19T05:17:01","modified_gmt":"2023-03-19T09:17:01","slug":"sam-bankman-fried-scored-meeting-with-top-regulator-tried-to-win-influence-before-collapse-emails","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-scored-meeting-with-top-regulator-tried-to-win-influence-before-collapse-emails\/","title":{"rendered":"Sam Bankman-Fried scored meeting with top regulator, tried to win influence before collapse: Emails"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsam-bankman-fried-scored-meeting-with-top-regulator-tried-to-win-influence-before-collapse-emails%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1900845&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"col-12 col-md-7 col-lg-8 col-xl-9 float-left body colgap-l-50\" itemprop=\"mainEntityOfPage\">\n<div class=\"ArticlePage-articleBodyWrapper\">\n<div class=\"ArticlePage-articleBody\" itemprop=\"articleBody\">\n<div class=\"RichTextArticleBody\">\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78227310\" class=\"brid\" style=\"width:16; height:9;\" itemprop=\"video\" itemscope itemtype=\"http:\/\/schema.org\/VideoObject\">\n                                <meta itemprop=\"name\" content=\"COVID-19 origins to be unsealed under House declassification bill once ignored by Pelosi\"><br \/>\n                                <meta itemprop=\"description\" content=\"The House is scheduled to vote on a bill to declassify \" any and all information related to the origin of covid-19 pandemic which passed senate by voice vote last week. is set for friday according office majority leader steve scalise process will begin with house intelligence committee rules hearings on tuesday.><br \/>\n                                <meta itemprop=\"duration\" content=\"PT1M26S\"><br \/>\n                                <meta itemprop=\"uploadDate\" content=\"2023-03-07 22:13:39\"><br \/>\n                                <meta itemprop=\"thumbnailURL\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/snapshot\/1257212_th_1678227220.jpg\"><br \/>\n                                <meta itemprop=\"contentUrl\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/sd\/1257212.mp4\">\n                            <\/div>\n<p>                            <script type=\"text\/javascript\"> var _bp=_bp||[]; _bp.push({ \"div\": \"Brid_78227310\", \"obj\": {\"id\":\"27789\",\"width\":\"16\",\"height\":\"9\",\"video\":\"1257212\"} }); <\/script><br \/>\n                            <script type=\"text\/javascript\" async src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script>\n                        <\/div>\n<\/p><\/div>\n<p><b>Disgraced ex-cryptocurrency kingpin Sam Bankman Fried and his since-bankrupt company FTX scored a meeting with a top regulator and sought to sway them to adopt industry-friendly rules months before the exchange&#8217;s historic collapse, emails show.<\/b><\/p>\n<p>In May 2022, FTX pitched the Federal Deposit Insurance Corporation on why it was apparently poised to be a &#8220;superior&#8221; cryptocurrency exchange and was swiftly granted a meeting with its chairman, Martin Gruenberg, according to emails obtained by watchdog group Protect the Public&#8217;s Trust and shared with the Washington Examiner.<\/p>\n<p>FTX was on a lobbying spree to gain influence in Washington before its November 2022 collapse, which was due to it allegedly diverting customer funds to Alameda Research, a defunct-company Bankman-Fried co-founded. <\/p>\n<p>On May 28, 2022, FTX&#8217;s-then policy head Mark Wetjen emailed Gruenber and discussed FTX&#8217;s &#8220;risk model,&#8221; which pertained to its application pending before the Commodity Futures Trading Commission (CFTC) to amend regulations that would pave the way for more federally authorized cryptocurrency product offerings. Wetjen requested a meeting with Gruenberg and Bankman-Fried. <\/p>\n<p>&#8220;While the banking system has so far been relatively unscathed by the latest crypto crash, FTX\u2019s collapse shows that crypto may be more integrated into the banking system than regulators are aware,&#8221; wrote Sens. Elizabeth Warren (D-MA) and Tina Smith (D-MN) in their letter \u2014 which asked whether agencies will investigate the relationships between banks and cryptocurrency firms.<\/p>\n<p>The revelation of the meeting between FTX and Gruenberg comes after the Washington Examiner first reported on how Bankman-Fried and his then-FTX colleagues lobbied then-CFTC commissioner Dan Berkovitz for favorable regulations. Bankman-Fried also told Berkovitz in October 2021 that FTX was the natural choice to be the &#8216;umpires of the crypto industry,'&#8221; after Berkovitz described noticing at an MLB game that the league had a sponsorship agreement with the exchange.<\/p>\n<p>In August 2022, the FDIC sent a cease and desist letter to FTX that instructed the exchange to stop illegally &#8220;misleading&#8221; consumers about the status of their funds.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read More From <a href=\"https:\/\/www.washingtonexaminer.com\/news\/sam-bankman-frieds-ftx-sought-to-win-influence-martin-gruenberg\">Sam Bankman-Fried scored meeting with top regulator, tried to win influence before collapse: Emails<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>a EXCLUSIVE \u2014 Disgraced ex-cryptocurrency kingpin Sam Bankman Fried and his since-bankrupt company FTX scored a meeting with a top regulator and sought to sway them to adopt industry-friendly rules months before the exchange&#8217;s historic collapse, emails show. In May 2022, FTX pitched the Federal Deposit Insurance Corporation on why it was apparently poised to<\/p>\n","protected":false},"author":1,"featured_media":1900846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[7176,7385,8602,6219,4470,10520,6912,10438,7627],"class_list":["post-1900845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-bankman-fried","tag-collapse","tag-emails","tag-influence","tag-meeting","tag-regulator","tag-sam","tag-scored","tag-win"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1900845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1900845"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1900845\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1900846"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1900845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1900845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1900845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}