The details were shared by Commodity Futures Trading Commission (CFTC) chairman, Rostin Behnum, at his agency’s meeting with FTX officials before the Committee on Agricultural Nutrition and Forestry, that he and several high-level CFTC officials had previously CEOs that centered around the application when FTX filed for bankruptcy and the CFTC-regulated entity it purchased last year enrolled to amend the LedgerX Carriers Clearinghouse license. FTX and 130 related companies filed for bankruptcy on November 11, and CEO Bankman-Fried immediately stepped down as CEO, and Ledgerx was sidelined from the bankruptcy filing.
Wherein the CFTC Chairman states that his team met with the former CEO and over the past 14 months we met at his CFTC office approximately 10 times at his request which was due to the meeting regarding the clearing house application. The chairman further states that 9 of the meetings were held in Washington DC and one was held in Florida, in addition to this they communicated through phone calls and text messages in between, and also through email, which is a sign of crypto exchange. related to the willingness to accept the application. The head of the CFTC stressed that his approach to this application, given the currency and strong sentiment, required the utmost transparency and open dealings with FTX. While Behnam could not remember how many times Bankman-Fried or other FTX officials met with CFTC officials, he says they were largely in the building to discuss the details of his Clearing House application. Can be done and no problem should arise. The Chairman states that he had very strong feelings about this application and felt that he needed to be involved as the Chairman of an agency that could interact directly with FTX and its CEO where FTX collapsed. So he says he thinks it’s like a classic liquidity crunch where he concludes that the liquidity crunch shows a classic run and at the time FTX was filing for bankruptcy and the CFTC was reviewing the application. At the same time, Behnam stated that no such decision had been made and that he had met with officials several times prior to the process to file for bankruptcy, which centered on how this The plan and this review should be passed.
So we can say here that in fact after talks with FTX officials and former CEO and CFTC itself the main point was to negotiate various plans and ordinances and reach a certain state through meetings with the aim that The ex-servicemen were to share their point of view and their point of view with the officers and extract the best results with them which were sufficient and appropriate to solve any difficulty. Where all the information about these meetings was kept secret and no one knew much because these meetings were organized under a private plan which was influenced by many reasons and was directly related to the FTX collapse.
