Blockchain News

Sam Bankman-Fried and FTX Executives Met With CFTC Commissioner for Dinner in October 2021: Report

Disgraced Shortly before the crypto exchange collapsed, FTX founder Sam Bankman-Fried reportedly dined with a member of the US Commodity Futures Trading Commission (CFTC), the same federal agency he sought to regulate the crypto industry.

According to a new Los Angeles Times report, FTX employed several former federal regulators, providing Bankman-Fried with access to high-ranking CFTC officials.

According to the report, in October, FTX’s general counsel Ryne Miller assisted in arranging a dinner between Bankman-Fried and Dan Berkovitz, who was a CFTC Commissioner at the time.

Miller previously served as legal counsel to former CFTC Chairman Gary Gensler, who now chairs the US Securities and Exchange Commission (SEC). Miller, along with Bankman-Friend and then-FTX President Brett Harrison, attended the dinner. Others were invited to the dinner, but their attendance is unknown.

Zach Dexter, CEO of LedgerX, former CFTC Commissioner Mark Wetjen, who joined FTX as head of policy and regulatory strategy, and Michelle Bond, CEO of the Association for Digital Asset Markets are among those on the list.

Berkovitz, who reportedly reimbursed Miller $50 for his dinner expenses, recently resigned as the SEC’s General Counsel.

According to the report, it is unclear what was discussed at the dinner.

Miller also invited CFTC Commissioner Dawn Stump to a dinner with Bankman-Fried in November 2021 or to visit the FTX offices in Chicago, but it is unclear whether Stump accepted the invitation.

Bankman-Fried is accused of defrauding investors, mishandling customer funds, and illegally contributing to political campaigns. He recently posted the largest pretrial bail of all time and is currently under house arrest awaiting trial.


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