More Proof Of The Gensler And FTX Collusion—The Apex Of The Biggest Scandal Of Our Time?• December 14, 2022 10:52 am • Comments
Gary Gensler’s troubles seem to be accumulating in the wake of the FTX collapse…
We previously reported that Gensler had secret meetings with George Soros and senior heads of the Democrat establishment that have since become public knowledge.
Before that, connections between Gensler and the now-defunct FTX exchange were also revealed.
Now, political representatives are outright claiming that Gary Gensler knew that FTX was a fraudulent operation right from the start and that he let the exchange skirt regulatory consequences.
Numerous meetings between Sam Bankman-Fried and Gensler have since come under scrutiny, as many policymakers are now calling into question both Gensler’s competence and integrity.
Rep Tom Emmer made this claim and vowed to hold Sam Bankman-Fried accountable for what many are calling the worst financial scandal since Enron:
So @GaryGensler knows that FTX was fraudulent from its inception.
This is egregious considering he had more meetings with Bankman-Fried than anyone in the space to discuss a crypto regulatory framework designed to benefit FTX alone.
He will be held accountable. pic.twitter.com/LkkOMfc5TP
— Tom Emmer (@RepTomEmmer) December 13, 2022
Rep. Bill Huizenga questioned the current CEO of FTX, John Ray, during a nearly 4-hour Congressional inquiry that you can watch the entirety of here.
Ray responded that he is still digging through all the information and could not adequately answer questions about U.S. client funds or locked accounts:
Today, I questioned John Ray, CEO of FTX, about @SBF_FTX’s unacceptable management practices. It appears @garygensler missed multiple red flags while trying to cut a deal w/ @FTX_offical. Congress must provide clarity and hold @secgov accountable. pic.twitter.com/30sXQmoZtJ
— Rep. Bill Huizenga (@RepHuizenga) December 13, 2022
Gensler’s role in the collapse of FTX, and what he knew, has come under scrutiny before; however, this letter from Congressman Ritchie Torres somewhat opened the floodgates and focused, once again, on what he knew about the failed exchange.
Gensler, who has always been the self-proclaimed sheriff of crypto, let FTX seemingly slide off the regulatory radar despite many red flags:
Democrat Congressman Ritchie Torres has opened an investigation into how Gary Gensler has “fundamentally failed as a regulator” on FTX. pic.twitter.com/Fhgz7ICTl5
— J.W. Verret, JD, CPA/CVA 🗡 🛡 🏴 (@JWVerret) December 7, 2022
Fox Business reports:
On March 23, some eight months before Bankman-Fried’s crypto empire collapsed and was forced into bankruptcy, Gensler granted what some crypto players are calling an unusual meeting to the then-billionaire and prolific fundraiser for Democratic candidates, including his boss, President Biden.
Now some crypto players and Gensler’s critics in Congress are questioning why he missed the FTX debacle and recent bankruptcy amid his sweeping crackdown.
At issue: A meeting between Bankman-Fried and Gensler where they discussed an idea for a new SEC-approved crypto trading platform.
If approved, the former FTX chief would have received a jump-start on the competition with a trading platform explicitly meeting the SEC standards, people with direct knowledge of the matter told Fox Business.
Hey Congress the FTT token had excellent returns under Gary Gensler because he didn't sue FTX. He had constructive meetings with SBF. Similar to the meetings the SEC had with Joseph Lubin prior to the Bill Hinman ETH speech. Is FTT a security @garygensler @HesterPeirce ???? https://t.co/qdeIbzdEBV
— Digital Asset Investor (@digitalassetbuy) December 9, 2022
BREAKING: @GaryGensler met w @SBF_FTX twice over the past year, or so. I cant recall another time when an @SECGov chair met privately w a target of a major fraud in the months leading up to charges being filed and the targets arrest. Incoming GOP majority will be asking questions
— Charles Gasparino (@CGasparino) December 13, 2022
The @SBF_FTX indictment was just unsealed. The scale of his crimes are astounding.
There is now no question that @GaryGensler's dysfunctional leadership isn't working. He failed to protect a single investor in the biggest fraud case of his tenure. https://t.co/p8xcupbou3
— CryptoLaw (@CryptoLawUS) December 13, 2022
Gensler is rushing to make “big changes” to other parts of our financial system in the wake of the FTX collapse, according to The New York Post:
Sources tell me Gensler is doing just that — preparing to unveil plans for the biggest changes in about two decades to the way stocks are routed from buyers to sellers.
If Gensler’s timing holds, he will announce (possibly this week) an open meeting for mid-December that will detail his plan to remake the nation’s $46 trillion stock market, as I first reported on Fox Business.
The idea is to jam out his proposed changes — and they’re pretty significant — before year’s end.
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