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he brother of FTX CEO Sam Bankman-Fried is a former Legislative Correspondent for Democratic Congressman Sean Casten, who serves on the House Financial Services Committee and its subcommittees involved in “investor protection” and “consumer protection.”
Rep. Casten also participated in a congressional hearing featuring Sam Bankman-Fried, though he failed to ask the CEO of the now-bankrupt cryptocurrency exchange platform any questions.
The unearthed affiliation between the brother of the former FTX CEO and Rep. Casten follows Bankman-Fried donating nearly $40 million to Democrats during the 2022 midterm election cycle.
Congressional records reveal that Gabe Bankman-Fried worked in Rep. Casten’s office for a period of two years from January 2019 to February 2021. His LinkedIn profile confirms this employment.
Rep. Casten is a member of the House Financial Services Committee and serves on the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, the Subcommittee on Consumer Protection and Financial Institutions, and the Taskforce on Artificial Intelligence.
The Illinois Congressman’s role gives him considerable influence over the House’s approach to cryptocurrency and fintech regulation, with many speculating that the lax regulations for the industry contributed to the fall of FTX.
