Two US Senators are seeking answers from the Chair of the Commodities and Futures Trading Commission (CFTC) regarding his connections to Sam Bankman-Fried, the disgraced founder of FTX. In a letter addressed to CFTC Chair Rostin Behnam, Senators Elizabeth Warren and Charles Grassley inquire about his relationship with Bankman-Fried, who is currently serving prison time for his involvement in the collapse of FTX.
The letter, which requests an account of all meetings, phone calls, and written correspondence between Behnam and Bankman-Fried’s team, also asks for details of any conversations involving Behnam or any CFTC employee regarding Bankman-Fried, FTX, Alameda Research, or any associated executives. The Senators hope that this information, to be provided by April 29, 2024, will shed light on the nature of Behnam’s interactions with Bankman-Fried leading up to the public revelation of his crimes.
The Senators emphasize the importance of safeguarding the savings and retirements of Americans, stating that it is crucial for Congress and market regulators like the CFTC to understand how such a significant crime was allowed to occur. They note that while Bankman-Fried’s punishment is appropriate, it offers little comfort to his victims who will never fully recover financially.
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