Senators Elizabeth Warren and Charles Grassley Probe CFTC Chair About Alleged Ties With Sam Bankman-Fried

Two United States Senators are want answers from the Chair of the Commodities and Futures Trading Commission (CFTC) over his connections to the disgraced founder of FTX, Sam Bankman-Fried.

In a new letter to CFTC Chair Rostin Behnam, US Senators Elizabeth Warren and Charles Grassley probe his relationship with Sam Bankman-Fried, who is currently serving prison time for his role in the FTX collapse.

“We write to renew requests for an accounting of all meetings and correspondence between you and Sam Bankman-Fried during your tenure as Chair of the Commodity Futures Trading Commission (CFTC). Mr. Bankman-Fried was sentenced last month to 25 years in prison for stealing $8 billion from users of the cryptocurrency exchange FTX. 

This punishment, while appropriate, provided cold comfort for his victims, who will never be made whole financially. 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 letter requests a full account of all meetings, phone calls, and written correspondence between Behnam’s team and Bankman-Fried’s, including dates, meeting minutes, and copies of all written correspondence.

Furthermore, the letter also asks for a list of all conversations about Bankman-Fried, FTX, Alameda Research, or any associated executives involving Behnam or any CFTC employee.

The letter, signed by Warren and Grassley, requests the information by April 29, 2024. The Senators claim this info will help them and the American public understand the nature of Behnam’s correspondence with Bankman-Fried in the months leading up to the public revelation of his crimes.

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