Dan Berkovitz was an FTX ally within the financial regulatory agency, and he met with Bankman-Fried and other cryptocurrency lobbyists. Dan Berkovitz, General Counsel at the Securities and Exchange Commission, has stepped down amid reports that he had met and dined with disgraced FTX founder Sam Bankman-Fried.
In a recent announcement, the SEC said that Berkovitz is departing his role at the agency effective January 31. Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel following his departure.
Emails obtained by the Times demonstrate how Bankman-top Fried’s deputies were able to assist FTX in gaining access in Washington, DC, before the crypto exchange declared bankruptcy last month. The investigation singled out three executives in particular.
Emails were obtained by watchdog Protect the Public’s Trust. “If ever there were a scene to conjure up a vision of a D.C. rigged toward corrupt insiders at the expense of the little guy, it would be difficult to top this one. Not long before its collapse and a raft of fraud charges, SBF and his gang were wooing.” Michael Chamberlain, director of Protect the Public’s Trust said.
According to the Los Angeles Times, Sam Bankman-Fried hired several former federal regulators who assisted FTX in connecting with officials from the Commodity Futures Trading Commission and the Securities and Exchange Commission.
Washington D.C., Dec. 22, 2022 –
Robinhood shares soar by 14 percent as reports mentioned a possible FTX deal
The Securities and Exchange Commission today announced that General Counsel Dan Berkovitz will depart the agency, effective Jan. 31, 2023. Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel, effective upon Mr. Berkovitz’s departure.
“I am grateful for Dan’s exceptional public service and his dedication to this agency,” said SEC Chair Gary Gensler. “Dan has led the Office of General Counsel during a time in which we’ve proposed critical reforms throughout the capital markets. His counsel, judgment, and leadership have been invaluable to our work at the SEC. I have been blessed to work with Dan at two great market regulators, and I congratulate him for his 34 years in public service.”
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FTX and Alameda File Request to Freeze $450 Million in Robinhood Stock in New York Court
