Former cryptocurrency billionaire and FTX co-founder Sam Bankman-Fried met with senior Biden administration officials before he was charged with financial fraud, according to reports. When asked about the visits, White House press secretary Karine Jean-Pierre told reporters that the meetings discussed “pandemic prevention.”
Senior White House Staff Meet with Former Billionaire Sam Bankman-Fried to Discuss ‘Crypto Industry’ and ‘Pandemic Prevention’
Disgraced FTX co-founder Sam Bankman-Fried (SBF), now indicted on eight counts of financial fraud and wrongdoing, met three times with White House counsel Steve Richetti. SBF also once met with White House Deputy Chief of Staff Bruce Reed. SBF has donated large sums of money to Democratic leaders in the United States, including $5.2 million in campaign contributions to incumbent President Joe Biden.
Several members of the US Democratic Party and certain campaign committees are currently under investigation by federal prosecutors for SBF-related donations, according to reports. Recently, during a press briefing on December 13, 2022, a reporter asked White House press secretary Karine Jean-Pierre whether the administration would return the funds.
“I’m covered here by the Hatch Act,” Jean-Pierre told a reporter. He further noted that there are restrictions on what he can say to the press. “Anything to do with political contributions, I have to refer you to the DNC from here,” Jean-Pierre added.
To start the new year, the White House held a press briefing on January 3, 2023, and Jean-Pierre was asked about the four meetings he had with SBF and senior Biden administration officials. Biden’s press secretary explained that the meetings were about gathering common knowledge about the cryptocurrency industry and pandemic prevention.
“Let me give you a few summaries here. As we previously confirmed, and as you know, I know you’ve been watching this very closely, these meetings include Steve Richetti and Bruce Reed, meetings dedicated to pandemic prevention related to Sam Bankman-Fried’s foundation,” Jean-Pierre said. “And about the crypto industry and crypto exchanges background information. Look, you know the administration has been very clear about the need for Congress to act when it comes to cryptocurrency.”
Jean-Pierre also discussed Biden’s focus on the crypto industry and his recent executive order last March. “As you know, the president signed an order on this issue in March of last year. The president issued a framework for consumer protection last fall and last November,” the press secretary continued. “Secretary Yellen reiterated the administration’s call for Congress to take action. As you know, the White House regularly engages with officials from various industries and sectors, including business leaders, as well as nonprofit organizations.
Jean-Pierre added:
Again, this meeting with Sam Bankman-Fried focused on pandemic prevention, cryptocurrency and cryptocurrency exchanges.
The definition of pandemic prevention was a topical discussion on social media following a press briefing published on Tuesday, January 3. Jean-Pierre’s statements were derided as Hatch Act statements two weeks ago. Being an individual he joked Of Jean-Pierre’s SBF comments, he said perhaps the White House “should schedule a meeting with Jordan Belfort (the monster of Wall Street) about vaccines later.”
What do you think of the White House’s revelations about senior Biden officials meeting with indicted FTX co-founder SBF? Let us know what you think about this topic in the comments section below.
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