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- Sam Bankman-Fried, CEO of FTX, and other employees of the FTX exchange visited the White House in May.
- Details of the visit are unknown, but the visit coincided with Bankman-Fried’s testimony before Congress.
- FTX staffers met with members of the Biden administration rather than President Joe Biden himself.
According to visitor records, FTX CEO Sam Bankman-Fried and other exchange employees visited the White House in May.
FTX CEO and others visited the White House
FTX employees visited the White House this year.
Newly published log documents show that staff visited the presidential residence on May 12 and May 13, 2022.
The guestbook mentions three people who work for FTX: CEO Sam Bankman-Fred, Director of Government Relations and Policy Eloria Katz, and Director of Policy Mark Wittgen.
The FTX team does not appear to have met President Biden. Instead, they met with Biden administration policy adviser Charlotte Potash and adviser Steve Richetti.
Details of the meeting are unclear. However, the visit coincided with Sam Bankman Fred’s appearance before Congress. On May 12, Bankman-Fried and several individuals testified before Congress, defending a proposal in March that would allow broker-free derivatives to be traded.
Later, on May 25, Sam Bankman-Fried participated in a roundtable discussion organized by the Commodity Futures Trading Commission (CFTC) on the same issue. This event included many industry members.
Sam Bankman’s brother, Gabriel Fried, also visited the White House with the rest of the team. Although Gabriel is not associated with FTX, the two brothers have collaborated on issues such as PAC pandemic preparedness. PAC has nothing to do with cryptocurrency, despite the rumors.
It is not clear if any of these issues have been discussed in the White House, but FTX’s participation in the regulations means that some differences on these topics are likely to be discussed.
FTX has established itself as a major cryptocurrency exchange since its opening in 2019. It has handled nearly $2 billion in volume in the past 24 hours; FTX.US handled another $220 million.
Disclosure: At the time of writing, the author of this piece owns BTC, ETH, and other cryptocurrencies.