The Biden Administration’s crypto timeline:
- Sam Bankman-Fried is the second largest donor to Biden’s presidential campaign
- Biden appoints Gary Gensler as chairman of the SEC
- Gary Gensler hosts friendly meeting with Bankman-Fried and FTX execs, no action letter discussed
- After winning favor with the SEC, FTX is exposed as one of the largest frauds in history by the crypto community
- The SEC attacks sound, legal businesses who have been attempting to work in good faith with regulators for over a decade (Coinbase, Kraken)