U.S. Congresswoman Maxine Waters (D-Calif.), Chairwoman of the House Financial Services Committee, has been one of the most vocal critics of the crypto industry over the past few years.
In 2022, Waters was actively pushing for a subpoena for FTX founder Sam Bankman-Fried (SBF) to testify before Congress, underscoring her call for increased regulation in the rapidly expanding digital assets sector.
However, recent developments indicate a notable shift in her stance, as Waters now acknowledges the inevitability of cryptocurrency.
From Subpoena To Arrest: The SBF Saga
Back in 2022, Waters was determined to bring SBF before Congress to answer for the collapse of his crypto exchange, FTX.
Her plans took an unexpected turn when Bankman-Fried was arrested in the Bahamas at the request of the U.S. Attorney for the Southern District of New York.
Waters expressed her surprise over the timing, stating, “The public has been waiting eagerly to get these answers under oath before Congress, and the timing of this arrest denies the public this opportunity.”
SBF was slated to appear before the House Financial Services Committee the day after his arrest and had accepted an invitation to testify before the Senate Banking Committee.
His arrest preempted these hearings, with Waters noting, “We received confirmation this afternoon from Mr. Bankman-Fried and his lawyers that he was still planning to appear before the Committee tomorrow, but then he was arrested.”
Now, SBF faces a myriad of charges, including wire fraud, securities fraud and money laundering, marking a significant development in the ongoing scrutiny …
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