The Republican arm of the US Congress recently opened investigations into the role of the Securities and Exchange Commission (SEC) following FTX’s fall.

Congress Representative Patrick McHenry [R] had written to the SEC Chairman, Gary Gensler, requesting the submission of records and communications between the commission and the defunct FTX in the periods up to its bankruptcy and beyond. The letter, co-signed by Michigan’s Bill Huizenga, who sits at the helm of financial oversight and investigations in the lower house, sought to quiz SEC on the timing of its charges and probe further for any possible collusion between Bankman-Fried and chair Gensler.

The investigation is only one in a series of questioning initiated by Congress. Last year, it reacted negatively to reports of the SEC demanding companies to reveal their climate transition plans in their report. The SEC was accused of being climate neutral, which it reacted by claiming otherwise — “whether its crypto or climate risk.”

(By Collins K.O)

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