Disgraced FTX founder Sam Bankman-Fried hired a former chief finance regulator nicknamed ‘Crypto Dad’ to land a meeting with the chairman of the SEC, DailyMail.com can reveal.
The crypto billionaire’s firm brought in Christopher Giancarlo, the former head of the Commodity Futures Trading Commission, to set up a ‘formal introduction’ with SEC chair Gary Gensler which took place in October 2021.
The meeting is believed to be the first between Bankman-Fried and Gensler, who both controversially also met in March this year to discuss a crypto trading platform which could be approved by the SEC.
It mean the SEC chair met Bankman-Fried at least twice – and will pile pressure on Gensler to explain their relationship and his failure to prevent the crisis FTX.
Gensler is said to be ‘in a corner’ over his meetings with Bankman-Fried and lawmakers in Congress want him to answer questions about how FTX’s collapse, which cost investors billions of dollars, could happen on his watch.
Giancarlo, a lawyer who departed the CFTC in 2019, earned the nicknamed ‘Crypto Dad’ from cryptocurrency enthusiasts for his positive attitude towards the technology.
He attended the meeting in 2021 in his capacity as a lawyer for Willkie Farr & Gallagher.
It is believed the firm was hired by FTX because Mr Giancarlo’s previous role at the CFTC could help secure the meeting with Gensler.
Details of the October meeting between Bankman-Friend and Gensler emerged as:
- FTX’s new leadership claimed Bankman-Fried gained ‘unauthorized access’ to its systems after it filed for bankruptcy
- The CEO of rival exchange Binance labeled Bankman-Fried a ‘liar’ and a ‘bad player’
- Bankman-Fried appeared to blame his ex-girlfriend, who headed another of his companies, for the FTX collapse
- Investors who ‘lost $11 billion’ in failed FTX sued celebrities who endorsed the crypto company, including Gisele, Tom Brady and Shaq
- More
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