• Sam Bankman-Fried (SBF), former crypto billionaire and FTX co-founder, met with senior Biden administration officials before he was indicted for financial fraud.
• The meetings allegedly involved discussions about “pandemic prevention” and the “crypto industry”.
• White House Press Secretary Karine Jean-Pierre addressed questions from the press regarding SBF, noting that there were limitations on what she could say to the press due to the Hatch Act.
Sam Bankman-Fried, the former crypto billionaire and co-founder of FTX, recently met with senior Biden administration officials before he was indicted for financial fraud. The meetings, which took place before Bankman-Fried’s indictment, were attended by White House adviser Steve Richetti and deputy chief of staff Bruce Reed. When asked about the visits, White House press secretary Karine Jean-Pierre told the press the meetings involved discussions about “pandemic prevention” and the “crypto industry”.
Bankman-Fried has been a major donor to the Democratic Party, having donated a total of $5.2 million in campaign donations to the current president Joe Biden. As such, the news of Bankman-Fried’s meetings with the Biden administration has raised questions about the donations and whether they had any influence on the meetings. In response to these questions, Jean-Pierre noted that she was limited in what she could say to the press due to the Hatch Act. Jean-Pierre further added that any questions related to political contributions should be referred to the DNC.
The news of Bankman-Fried’s meetings with the Biden administration comes after he was charged with eight counts of financial fraud and misconduct. While the exact details of the meetings remain unknown, Bankman-Fried’s presence in the White House has raised questions about the influence of money in politics. It remains to be seen how the Biden administration will respond to these questions and how the legal proceedings against Bankman-Fried will play out.