• Former FTX CEO Sam Bankman-Fried visited the White House to discuss pandemic prevention and cryptocurrency.
• White House press secretary Karine Jean-Pierre said the meeting focused on pandemic prevention-related matters and cryptocurrency and crypto exchanges.
• The attendees may have also discussed the now-defunct FTX Future Fund, who once donated $1.5 million to Stanford University for pandemic prevention, and Gabriel Bankman-Fried’s non-profit Guarding Against Pandemics.
On January 3, the White House confirmed that former FTX CEO Sam Bankman-Fried had visited the White House for meetings concerning pandemic prevention and cryptocurrency. White House press secretary Karine Jean-Pierre stated that the meetings focused on pandemic prevention-related matters and cryptocurrency and crypto exchanges. She noted that the administration has been clear about the need for Congress to take action on the cryptocurrency industry.
The meetings may have discussed the now-defunct FTX Future Fund, which had donated $1.5 million to Stanford University for pandemic prevention. Additionally, they may have discussed the non-profit organization Guarding Against Pandemics, which was formerly operated by Bankman-Fried’s brother, Gabriel. Gabriel Bankman-Fried was present at some of the White House meetings.
The White House’s acknowledgement of the meetings with Bankman-Fried is the latest indication that the Biden administration is paying attention to the cryptocurrency industry. It remains to be seen if the meetings will lead to any concrete action or legislation, but the meeting is a positive sign for the industry.
The cryptocurrency industry has grown exponentially in recent years, with more and more investors realizing the potential of digital assets. Despite this growth, the industry still faces numerous regulatory hurdles, with many governments still uncertain how to best regulate the sector. The Biden administration’s acknowledgement of Bankman-Fried’s meetings at the White House is an encouraging sign that the government is willing to engage with the industry and take it seriously.
It is clear that the Biden administration is taking the cryptocurrency industry seriously, and it will be interesting to see what comes out of the meetings between Bankman-Fried and the White House. It is possible that the meetings could lead to new legislation or regulations, but it is too soon to tell for sure. Either way, the meetings are a positive step for the industry, and it is likely that the Biden administration will continue to engage with the cryptocurrency industry in the months ahead.