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Eight US House Members Attempted to Stop SEC’s Inquiry Into FTX Activities

A total of eight U.S. congress members – four Republicans and four Democrats – had in a March letter questioned the SEC’s authority to inquire about cryptocurrency-related projects including FTX. The congress members claimed that SEC’s inquiries in the crypto community could kill American innovations.

FTX employees made campaign donations to five out of the eight house members, ranging from $2,900 to $11,600. Rep Budd also received $500K in campaign donations from a super PAC established by FTX co-CEO Ryan Salame. Furthermore, the National Republican Congressional Committee (NCRC) received huge donations worth $5.5 million from FTX and its associates. 

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