Influential members of the crypto community on Twitter have been among the harshest critics of Sam Bankman-Fried (SBF) and his FTX crypto exchange for years. We know that FTX misused up to $8 billion in customer funds before filing for Chapter 11 bankruptcy. A significant portion of the misused funds was used to corrupt politicians, celebrities, and the media. While the FTX fraud unfolded, U.S. regulators allegedly stood by and watched, Twitter users expose.
For example, Fox columnist Charles Gasparino (@CGasparino) claimed in a tweet that SBF had met with SEC Chair Gary Gensler twice in the past year. CFTC Chair Rostin Behnam is said to have met with SBF as many as ten times, some of them privately. If this is true, then the FTX fraud took place under the eyes of the two most important U.S. regulators. That would be the real scandal in what is alleged to be the largest financial fraud in U.S. history.