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Home » Warren and Grassley, Senators, seek information about FTX’s correspondence with CFTC
Warren and Grassley, Senators, seek information about FTX's correspondence with CFTC
Warren and Grassley, Senators, seek information about FTX's correspondence with CFTC

Warren and Grassley, Senators, seek information about FTX’s correspondence with CFTC

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By admin on 2024-04-15 Regulations Security

United States Senators Elizabeth Warren and Charles Grassley have written a letter to Rostin Behnam, the chair of the Commodity Futures Trading Commission (CFTC), requesting information about Behnam’s interactions with former FTX CEO Sam Bankman-Fried prior to the collapse of the cryptocurrency exchange. In their letter, the senators refer to a previous letter sent by Senator Josh Hawley to Behnam and others.

Warren and Grassley, who represent different ends of the political spectrum, reminded Behnam of his previous statement during a Senate Agriculture Committee hearing in December. At the hearing, Behnam mentioned that he and his team had met with Bankman-Fried and his team on multiple occasions over the course of 14 months, with 10 of those meetings taking place at the CFTC office at the request of FTX.

During the hearing, Behnam used the opportunity to advocate for more authority for the CFTC, highlighting the need to address regulatory gaps. In their letter dated April 12th, Warren and Grassley expressed their intention to “renew requests” for information and demanded a detailed account of all interactions between Behnam, CFTC staff, and individuals associated with Bankman-Fried, FTX, Alameda, and other relevant executives. They also requested a timeline of the CFTC’s knowledge of the fraud committed, including any ongoing investigations into the parties involved.

The senators specifically mentioned their interest in understanding the nature of Behnam’s communication with Bankman-Fried before the public became aware of his criminal activities.

In November, Senator Hawley had previously written to Behnam, Attorney General Merrick Garland, and Securities and Exchange Commission (SEC) Chairman Gary Gensler, inquiring about any ongoing investigations or confidential settlements involving FTX, Alameda, and their executives prior to the collapse.

Source: Crypto Asset Investor

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