{"id":15120,"date":"2022-12-04T04:32:03","date_gmt":"2022-12-04T04:32:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/maxine-waters-criticized-for-praising-sbf-lawmaker-says-we-appreciate-that-youve-been-candid-regulation-bitcoin-news\/"},"modified":"2022-12-04T04:32:03","modified_gmt":"2022-12-04T04:32:03","slug":"maxine-waters-criticized-for-praising-sbf-lawmaker-says-we-appreciate-that-youve-been-candid-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/maxine-waters-criticized-for-praising-sbf-lawmaker-says-we-appreciate-that-youve-been-candid-regulation-bitcoin-news\/","title":{"rendered":"Maxine Waters Criticized for Praising SBF \u2014 Lawmaker Says ‘We Appreciate That You’ve Been Candid’ \u2013 Regulation Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Congresswoman Maxine Waters has been heavily criticized for saying that she appreciates former FTX CEO Sam Bankman-Fried (SBF) being candid in his discussions about the collapse of his crypto exchange, FTX. \u201cSBF has not, in fact, been candid in his discussions. He committed fraud, full stop,\u201d one critic stressed.<\/strong><\/p>\n

Maxine Waters Slammed for Appreciating Sam Bankman-Fried<\/h2>\n

Congresswoman Maxine Waters (D-CA), chairwoman of the House Committee on Financial Services, was slammed on social media after she tweeted her appreciation to former FTX CEO Sam Bankman-Fried (SBF) Friday.<\/p>\n

Waters is leading a congressional hearing on the collapse of crypto exchange FTX, which will begin on Dec. 13. The lawmaker wrote: \u201cWe appreciate that you\u2019ve been candid in your discussions about what happened at FTX. Your willingness to talk to the public will help the company\u2019s customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th.\u201d<\/p>\n

\"Maxine<\/a><\/p>\n

Many people quickly pointed out to Waters that the former FTX chief executive is a fraud and should be arrested on sight. Some people have even compared Bankman-Fried and the FTX implosion to Bernie Madoff\u2019s Ponzi scheme<\/a>.<\/p>\n

\u201cIf you don\u2019t arrest him I will have lost all faith in our government being the tiniest bit of just,\u201d bitcoin proponent Dan Held replied<\/a> to Waters.<\/p>\n

Lawyer Jake Chervinsky responded to the congresswoman: \u201cRep. Waters, we appreciate that you\u2019re holding a hearing on the 13th, and we look forward to substantive fact-finding about what happened at FTX.\u201d He added<\/a>:<\/p>\n

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I am certain that factfinding will show that SBF has not, in fact, been candid in his discussions. He committed fraud, full stop.<\/p>\n<\/blockquote>\n

However, many people are not surprised by Waters\u2019 tweet given her good relations with Bankman-Fried. At the conclusion of a congressional hearing last year, she even appeared to be blowing kisses<\/a> at SBF. Some people also pointed out that the former FTX executive gave $300K<\/a> to Waters\u2019 committee members.<\/p>\n

\"Maxine<\/a>
Sam Bankman-Fried (center-left) and Rep. Maxine Waters (center-right). Source: Twitter.<\/figcaption><\/figure>\n

Crypto exchange FTX collapsed and filed for bankruptcy<\/a> on Nov. 11. An estimated one million customers and investors lost billions of dollars in the meltdown. FTX is currently being investigated by authorities in multiple jurisdictions. In the U.S., the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and other regulators are investigating<\/a> the exchange for mishandling customer funds, among other charges.<\/p>\n

Jeremy Hogan, a partner at Hogan & Hogan, told<\/a> Waters:<\/p>\n

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You, as the chairwoman (or the Committee itself), can just subpoena him to testify. No need to ask nicely on Twitter. It\u2019s House Rule XI clause 2(m). But I\u2019m sure you already knew that.<\/p>\n<\/blockquote>\n

Bankman-Fried was the second-largest donor to the Democratic Party during the 2021-22 election cycle. According to Opensecrets, he donated $39,884,256 to Democrats before FTX imploded and had to file for bankruptcy<\/a>. However, Tesla CEO and Twitter chief Elon Musk believes<\/a> that SBF\u2019s actual support to Democrats was over $1 billion.<\/p>\n

What do you think about the statement by Rep. Maxine Waters about Bankman-Fried and do you think she should lead the investigation into the collapse of FTX? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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