Cryptocurrency

White House says SBF meetings concerned pandemic prevention, not just crypto

Hull Invest

Former FTX CEO Sam Bankman-Fried visited the White House to discuss pandemic prevention and cryptocurrency, according to a statement. January 3rd.

White House Press Secretary Carine Jean-Pierre said:

“The White House regularly engages with officials from various industries and sectors…This meeting with Sam Bankman-Fried will focus on pandemic prevention-related issues, as well as cryptocurrencies and exchanges. was there.”

Specifically, Jean-Pierre said these meetings focused on pandemic prevention efforts from one of Bankmann-Fried’s foundations. Although I didn’t show it, attendees may have discussed the now-defunct FTX Future Fund, which once donated $1.5 million to Stanford University for pandemic prevention.

Attendees may also have discussed Guarding Against Pandemic, a non-profit organization previously run by Gabriel, Bankman-Fried’s brother. Gabriel Bankman-Fried attended several White House meetings.

Jean-Pierre confirmed that the conference included discussions about the cryptocurrency industry, emphasizing “general”. she said:

“The administration has made it clear that Congress needs to take action … it’s time we talk about dealing with cryptocurrencies.”

Regarding government action against cryptocurrencies, Jean-Pierre said that President Biden issued an executive order on cryptocurrencies last March and a consumer protection framework last fall. She also noted that US Treasury Secretary Janet Yellen is calling for new regulation of cryptocurrencies.

Bankman-Fried visited White House staff at least four times last year. The first her three visits were in April 2022 and his in May, the most recent in his September. These meetings were attended by Presidential Counsel Steve Ricketty and White House Deputy Chief of Staff Bruce Reed.

Bankman-Fried’s political activism has come under scrutiny because of his frequent political contributions. Naturally, a visit to the White House could raise suspicions that he visited and influenced Democrats to create more tolerant laws and regulations in favor of his cryptocurrency companies.

In fact, Bankman-Fried has openly sought to influence politics. He donated his $40 million to various US politicians (mostly Democrats) in the last political cycle. Bankman-Fried later defended his actions, saying he had also secretly donated to Republican politicians and his donations were focused on pandemic prevention.

Nonetheless, Bankman-Fried’s political activities were included in recent allegations.

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