Congressman Says FTX Not Failure of Crypto, Blames SEC, SBF, CeFi
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“Emmer went on to wonder where the Securities and Exchange Commission was when Terra LUNA collapsed, or Celsius went bankrupt. According to the Congressman, the regulators are more concerned with targeting the “good guys” than with investigating genuine red flags within the industry.”
This guy speaks facts
Regulators were out there trying…Celsius, Voyager, BlockFi for certain are all crypto projects that different states (like NJ, NY, AL, TX as examples).
There have been cease and desists, as well as several other enforcement orders and actions. One reason why it’s completely ignored is because a lot of people aren’t looking across all the US state websites to see who is doing what with crypto where.
(Some examples)
Arizona – BlockFi – July 2022
https://docket.images.azcc.gov/0000207197.pdf?i=1669166046379
Texas – Voyager – April 2022
https://www.ssb.texas.gov/sites/default/files/2022-04/20220412_FINAL_Voyager_NOH_312-22-2244.pdf
Texas – BlockFi – October 2021
https://www.ssb.texas.gov/sites/default/files/2021-07/Blockfi_NOH_final.pdf
New Jersey – Celsius – February 2022
https://www.njconsumeraffairs.gov/Actions/Celsius_ThirdExtension_3Feb2022.pdf
New Jersey – Voyager – March 2022
https://www.njconsumeraffairs.gov/Actions/VoyagerDigial_CD_29Mar2022.pdf
That’s code for “I’ve got money in this so we’re gonna bail this bitch out somehow” to the moon boys!
The Representatives who voted against the Short Sale Transparency and market Fairness Act. H.R. 4618 (house financial committee)
Tom Emmer – MN 6th District (@Rep TomEmmer) (Republican)
they want Gensler out , so they can get Hester Pierce a bonified puppet, you think GG isnt doing shit , hes fighting uphill, imagine all the fight turns into submission. Fuck you Retail. Dont believe this snake politician
Anyone think that regulation will be coming within the next 1 year?
Everyone’s in on it. FTX money has touched a lot of government. Look into SBF’s parents. They are law professors. They are trying to cover up now as it wasn’t widely known that they have millions of dollars worth of real estate in the Bahamas used with FTX investor money.
Does the SEC have the authority to investigate something like Luna or even FTX? I wonder where the line is drawn. FTX was private right? If I invest $100k into an established private restaurant and it comes out to be fraudulent somehow, the SEC isn’t involved right? So I wonder why they’d be involved with investigating a bigger private company.
umm okay?
In other news “Water is wet”
Everything is good to push the regulation …
This guy knows how to donate money. His political contribution is on a whole other level than your average campaign donator.
FTX is an “isolated” situation, it is a reflection of them. I don’t think it would be fair to criticise crypto as a whole regarding the specifics behind the FTX nightmare.
That’s so interesting how he is blaming the SEC [when he tried to stop the SEC from investigating FTX.](https://prospect.org/power/congressmembers-tried-to-stop-secs-inquiry-into-ftx/)
This is correct. Dont blame crypto.