News Explorer — FTX Met With FDIC Before Collapse

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Mar 20, 3:23 pm

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FTX Met With FDIC Before Collapse

Emails obtained by Protect the Public’s Trust show that FTX attempted to arrange a meeting with the FDIC chairman before its collapse. Mark Wetjen, the head of policy at the time, argued that the US government should regulate exchanges to mitigate crypto risks. The FDIC confirmed that the meeting took place. FTX's collapse revealed misuse of customer funds and Bankman-Fried now faces criminal charges.

Emails obtained by Protect the Public’s Trust show that FTX attempted to arrange a meeting with the FDIC chairman before its collapse. Mark Wetjen, the head of policy at the time, argued that the US government should regulate exchanges to mitigate crypto risks. The FDIC confirmed that the meeting took place. FTX's collapse revealed misuse of customer funds and Bankman-Fried now faces criminal charges.

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