U.S. Senators Elizabeth Warren (D-Mass.) and Chuck Grassley (R-Iowa) have issued a formal request for information from Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam.
The demand centers on Behnam’s interactions and communications with Sam Bankman-Fried, the ex-CEO of the cryptocurrency exchange FTX, which was declared bankrupt in November 2022 after a spectacular breakdown. The senators want a comprehensive record of all meetings, telephone conversations, and emails between Behnam and Bankman-Fried throughout the chairman’s term.
The investigation highlights a developing issue among U.S. lawmakers about the supervision and control of cryptocurrency markets.
“Safeguarding the savings and retirements of Americans requires Congress and market regulators like the CFTC to determine how this multi-billion-dollar crime was allowed to happen,” the senators stated in their letter.
This statement emphasizes the essential role of transparency and accountability in the
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