congressmembers tried sec inquiry into ftx

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Did Congress stop FTX from investigating the Securities & Exchange Commission?

The role of regulators has been heavily scrutinized in the wake of FTX’s collapse due to the close ties between former CEO Sam Bankman Fried and policymakers. Some reports indicate that eight congresspeople, five of whom received donations from FTX, tried to stop the Securities and Exchange Commission from investigating FTX.

Did FTX and Coinbase receive SEC inquiries?

A source with knowledge of the situation confirmed to the Prospect that FTX and Coinbase, a U.S.-based crypto exchange, were two of the firms receiving inquiries from the SEC. Emmer and his colleagues questioned the SEC’s inquiries in March.

Did Congress take millions from FTX?

The Washington Post Congress took millions from FTX. Now lawmakers face a crypto reckoning. Sam Bankman-Fried, founder of the FTX cryptocurrency exchange, testifies during a Senate hearing in February. (Saul Loeb/AFP/Getty Images)

Was Byron Donalds attempting to influence SEC investigations?

Rep. Byron Donalds (R-FL) said through a spokesperson that the congressman was not attempting to influence ongoing investigations at the SEC, and did not exchange any communications with FTX. He was merely concerned with the SEC’s procedure and guidance with crypto firms, which some have described as “ regulation by enforcement .”