The recent dismissal of Sam Bankman-Fried’s (SBF) second case has left XRP holders and attorney John E. Deaton with numerous perplexing questions. Deaton is raising thought-provoking inquiries, particularly about Senator Elizabeth Warren’s notable silence following the dropped case. He questions why there’s no investigation or indictment for Joe Bankman and Barbara Fried, alleged owners of luxury properties in the Bahamas funded with FTX customer money, despite Warren’s vocal concerns about cryptocurrency misuse.
As a member of the Senate Banking Committee overseeing the SEC, Warren’s role includes supervision. Deaton highlights her failure to request notes from meetings between SEC Chairman Gary Gensler and SBF. He questions her motivations and suggests she provided Gensler with pre-prepared questions and answers for a hearing, none of which covered his numerous meetings with SBF, challenging the apparent lack of scrutiny.
Deaton speculates on the possibility of coordination between Senator Warren and JPMorgan Chase CEO Jamie Dimon, who has stated that the only use for crypto is for illegal activities. Considering JPMorgan’s active involvement in crypto for certain cross-border transactions, Deaton probes whether there’s any coordination with Warren and explores the potential reasons and implications behind such coordination.
Prosecutors, citing issues with the consent of the Bahamas to extradite SBF to face charges in the US, opted not to pursue a second trial with additional charges. The lack of permission complicates legal proceedings, leading US officials to prefer sentencing based on evidence from the first trial in March 2024.
Deaton’s questions underscore the need for transparency and accountability in the cryptocurrency space. As the legal saga unfolds, it remains to be seen whether Senator Warren will respond to these inquiries and clarify her stance on the alleged financial malpractices related to FTX. The developments will undoubtedly shape the narrative of this complex legal scenario.