SEC chairman Gary Gensler faces heat over allegedly cozy ties to SBF

As Sam Bankman-Fried’s fraud trial heats up, so does the spotlight on Gary Gensler over his allegedly cozy ties with the fallen crypto kingpin. NY Post Business reporter Lydia Moynihan shares this story.

Last week, the chairman of the Securities and Exchange Commission got a subpoena threat from US Rep. Patrick McHenry, chair of the House Financial Services Committee, who is demanding more information on the FTX collapse.

“You refuse to be transparent with Congress regarding your interactions with FTX and Sam-Bankman Fried,” McHenry told Gensler at a Sept. 27 hearing.

On the other side of the aisle, Rep. Ritchie Torres (D-NY) in December said Gensler was “singularly responsible for the regulatory failures surrounding the collapse of FTX.”

In response, Gensler has remained tight-lipped about his role in the crypto exchange’s downfall.

Read more at https://nypost.com/2023/10/05/sec-chair-gary-gensler-faces-heat-over-sbf-ftx-ties/

#ftx #sambankmanfried #garygensler #business #crypto #sec

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