FTX fiasco: Gary Gensler is the main culprit, says Republican Tom Emmer

By causing a colossal loss of more than 40 billion dollars to its investors, the American exchange FTX suddenly became the center of all discussions. Far from being insensitive to this debacle, the Republican representative of Minnesota Tom Emmer also drew his conclusions.

FTX, Tom Emmer lists the culprits

Republican Tom Emmer denounces the culprits

FTX’s collapse is not a crypto failure. It’s a failure with CeFi, @GaryGensler and Sam Bankman-Fried. Decentralization is the most important. »

Admittedly, he made everyone laughing when he appeared with his head upside down in a Zoom conference in 2021. But he is far from left when it comes to cryptocurrencies. Thomas Earl Emmer II, elected Republican from Minnesota to the United States House of Representatives, recently returned to the collapse of FTX. On occasion, he sharply reprimanded the ex-CEO of the American crypto exchange, Sam Bankman-Fried, and the chairman of the Securities and Exchange Commission, Gary Gensler.

They’re working with Sam Bankman-Fried and others to give them special SEC treatment that others can’t get “, he specified.

Such affirmations refer to an allusion to the various preferential treatment granted by the SEC to SBF. Hadn’t he met Gensler on March 23? Moreover, just before the collapse of FTX, Samuel Bankman-Fried multiplied the meetings with elected officials in order to be dubbed ” darling of politicians “.

In short, it is only fitting that the status of “laundry of the Democrats” should fall to FTX.

Interview with Tom Emmer on cryptocurrency regulation

Gary Gensler, unloved by Republicans

For Tom Emmer, Gary Gensler is primarily responsible for the FTX fiasco. He, who was supposed to investigate this crypto exchange and others like Celsius, Terra and Voyager, apparently failed in his responsibilities. Instead of encouraging the good actors “, the boss of the SEC has only discouraged them.

Additionally, Gary Gensler has already faced harsh criticism from elected Republicans for his mismanagement of the SEC. The merger with SBF, worst exchange boss in cryptocurrency history, will certainly tarnish its image. The other deposed CEO, Do Kwon, must be in heaven right now. His name almost disappeared from radar screens thanks to these two.

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