International Connect to Congress - Investigate Gary Gensler and FTX

International Connect to Congress - Investigate Gary Gensler and FTX

Started
November 14, 2022
Signatures: 8,226Next Goal: 10,000
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Why this petition matters

Started by John E. Deaton

Petition to Senators Sherrod Brown (D-OH) and Pat Toomey (R-PA), and Representatives Maxine Waters (D-CA) and Patrick McHenry (R-NC):

We are writing to you as the Chairpersons and Ranking Members of the U.S. Congressional committees overseeing the Securities and Exchange Commission, because we are foreign citizens and digital asset holders who have been grievously harmed rather than protected by that agency.

The SEC’s job is to protect investors, but Gary Gensler as chairman has failed to protect retail digital asset holders over and over. Now, evidence has emerged that proves that Gensler met with the mastermind of what may be one of the biggest frauds in American history, Sam Bankman-Fried, before the multi-billion-dollar collapse of FTX. Public documents have revealed that Chair Gensler and his senior staff were meeting with Bankman-Fried about a “no action letter” while a massive fraud was going on right under the SEC’s nose.

This is not the first time Gensler has been under an ethical cloud, like when he was the subject of an Inspector General investigation while he was chairman of the Commodity Futures Trading Commission (CFTC). It’s time for a full Congressional investigation of Gensler’s role in one of the biggest financial frauds in American history, particularly since he has reserved the SEC’s enforcement resources for “regulation by lawsuit” against non-fraud cases against crypto companies like LBRY and Ripple. How did he let this happen?

We, the undersigned, ask that you immediately use your constitutional oversight responsibility to fully probe what Chair Gensler and the SEC did in the FTX scandal, what they failed to do, and why. The SEC must be compelled to provide Congress with all the documents and testimony needed for the whole truth to be understood, and the agency’s failures to be remedied. This scandal has harmed retail investors around the world, and it is your duty to take action so that the U.S. federal regulator of record is doing its job.

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Signatures: 8,226Next Goal: 10,000
Support now