Sam Bankman-Fried's Influence and Investigations Amid FTX Collapse

Emails obtained by watchdog Protect the Public's Trust reveal that Sam Bankman-Fried and his now-bankrupt company FTX scored a meeting with the Federal Deposit Insurance Corporation (FDIC) in May 2022 and sought to influence the adoption of industry-friendly rules months before the exchange's collapse. FTX was on a lobbying spree to gain influence in Washington before its November 2022 collapse, which was due to it allegedly diverting customer funds to Alameda Research, a defunct-company Bankman-Fried co-founded. Bankman-Fried plead not guilty in January to a slew of criminal charges, including wire fraud and money laundering.