Senator Warren, a prominent critic of cryptocurrencies, wrote to the CFTC Chairman requesting the disclosure of communications with FTX.

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Senator Warren, a prominent critic of cryptocurrencies, wrote to the CFTC Chairman requesting the disclosure of communications with FTX.

Following the preliminary ruling of the founder of the now-defunct exchange FTX, SBF, prominent anti-crypto Senator Elizabeth Warren, along with Senator Charles Grassley, sent a letter to the CFTC Chairman Rostin Behnam a few days ago, requesting the disclosure of discussions and meetings with FTX. However, similar requests in the past have gone unanswered.

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CFTC Admitted to Intensive Talks with FTX

On April 12th, Warren and Grassley sent a letter to CFTC Chairman Rostin Behnam requesting the disclosure of the agency's meeting, phone calls, and written communications with FTX CEO SBF.

Letter content

Behnam, as the only speaking witness, attended a Senate hearing in December 2022, where he mentioned meeting with SBF and other FTX executives at least 10 times in the nearly 14 months leading up to FTX's bankruptcy. He also pledged to prevent a similar disaster through comprehensive regulation of the crypto market.

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It was previously reported that SBF's interactions and collaboration with various regulatory bodies seemed very close at the time.

Warren Requests Public Disclosure of Conversations with FTX

In the letter, Warren stated:

Protecting the savings and retirement funds of the American people requires the coordination of Congress and market regulators like the CFTC, and we need to understand how this multi-billion dollar crime occurred.

Therefore, Warren requested all records of meetings, phone calls, text messages, written correspondence, and emails between the CFTC and FTX, Alameda, SBF, or relevant executives, as well as the timeline of the CFTC's awareness and investigation of fraud by FTX.

As requested, Behnam must submit the above information by April 29th.

Earlier Requests by Senators for the Same Information

However, back in 2022, Grassley and other senators had already made a similar request to the CFTC during a Senate hearing.

Additionally, Republican Senator Hawley had written to the U.S. Department of Justice (DOJ), SEC, and CFTC in the same month of the incident, asking if they had initiated an investigation into FTX or Alameda before their collapse, or if they had reached a secret settlement with the company or its executives.

Warren also mentioned in the letter:

Senator Hawley's previous letter seemed to echo our concerns about your relationship with SBF, Behnam.

So far, the mentioned CFTC and other relevant agencies have not responded to these requests.

CFTC: Data Preparation in Progress

CFTC spokesman Steven Adamske responded to thisstatement:

We have just received these letters and will work with the relevant units to provide the necessary information.

On the other hand, the SEC has also facedsimilar scrutiny for its interactions with the company in the months leading up to FTX's closure.