FTX CEO and Regulatory Team Met White House Officials, Visitor Logs Show

Updated by Kyle Baird
In Brief
  • FTX CEO Sam Bankman-Fried and his regulatory team visited the White House in May 2022.
  • Bankman-Fried has repeatedly expressed his interest in the U.S. government regulating the crypto market for the better.
  • FTX is also working with the city of Busan to help build a crypto exchange.
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White House visitor logs show that FTX CEO Sam Bankman-Fried and other officials from the crypto exchange visited White House officials Charlotte Butash and Steve Ricchetti.

Visitor logs from the White House show that FTX CEO Sam Bankman-Fried and his regulatory team had a meeting with White House policy advisor Charlotte Butash in May 2022. Gabriel Bankman-Fried, Director of Guarding Against Pandemics, was also a part of the meetings, as was FTX head of policy and former CFTC commissioner Mark Wetjen. The fourth member was Elria Katz, FTX’s director of government relations and policy.

Bankman-Fried also visited Steve Ricchetti, a political aide serving as a Counselor to the President, in April and May. It’s unclear what the specifics of the meeting dealt with, but the fact that the regulatory team was a part of the meeting indicates it had to do with how crypto is regulated.

Butash is the Policy Advisor to the Deputy Chief of Staff. A graduate of Harvard Law School, she has worked as an associate with Covington & Burling and was a volunteer vetting attorney for the Biden-Harris transition.

FTX has been in the news for its clearing proposal sent to the CFTC over allowing certain crypto transactions to be settled directly. It has not been well received by the existing industry.

Bankman-Fried has been vocal about regulations

Bankman-Fried and FTX have not been shy when it comes to expressing their opinion about regulation. The CEO has asked for U.S. officials to more tightly regulate the crypto market and believes that the country should lead regulation of the market.

In an interview with the Economic Club of New York, Bankman-Fried said that the government should “strike a balance between fostering economic growth and providing consumer protection and protecting against systemic risk and financial crimes.”

One of his suggestions was a registration system for tokens and stablecoins.

FTX to help Busan build its own crypto exchange

FTX has also been making progress in other countries, signing a Memorandum of Understanding with the city of Busan. The agreement will focus on FTX building an exchange for the city, with FT providing technical and infrastructure assistance.

In addition, FTX will help promote blockchain projects and partner with local universities to provide education on blockchain technology. Busan Mayor Park Hyung-jun aims to make the city a “specialized blockchain city.”


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