For years now, too many leaders on Wall Street and Washington either looked the other way or blindly supported the crypto industry as it worked relentlessly to infiltrate our financial system and rewrite the laws and rules to benefit their special interests.
Recognizing how important and influential Better Markets is (having participated in more than 125 rulemakings at the CFTC alone), FTX offered Better Markets “$1 million or more,” but only if we supported its Application at the CFTC – basically a bribe. Even though that is more than 25% of our annual budget, we refused to sell out and take FTX’s money, and we continued to aggressively oppose them, including in a face-to-face meeting with Sam Bankman Fried and his team of lobbyists.
Better Markets has stood against the crypto tidal wave of money, stood up to FTX’s powerful supporters (including at the CFTC and in Congress), asked the tough questions (including of Sam Bankman-Fried directly in our conference room), and aggressively opposed FTX’s radical and dangerous proposals.
Below is a timeline of just some of Better Markets’ work on crypto and FTX in 2022. You can find more information here.