Pro-XRP lawyer John Deaton has openly questioned the nature of the relationship between Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), and Sam Bankman-Fried, founder of FTX exchange. This scrutiny arose following the SEC’s announcement of record-breaking financial enforcement actions in fiscal year 2024.
Deaton suggests favoritism by the SEC towards Sam Bankman-Fried, possibly affecting the decisions and outcomes of regulatory actions. Such assertions point to potential conflicts of interest within regulatory practices.
This situation underscores ongoing concerns about the transparency and fairness of regulatory bodies in the cryptocurrency space, especially regarding high-profile personalities and companies.
