SEC General Counsel Quits After ‘Cozy Relationship’ With SBF and FTX
- December 23, 2022
Staff, Crypto News
The General Counsel for the U.S. Securities and Exchange Commission (SEC) has announced that he will depart the agency in January.
SEC General Counsel Dan Berkovitz said that he was leaving the agency on January 31, according to a Dec. 22 report by the Washington Examiner.
The government official had previously “wined and dined” with FTX founder Sam Bankman-Fried and his lobbyists, it added.
“After thirty-four years of public service, it is time for me to pursue new and different challenges and opportunities,” Berkovitz said. Additionally, Berkovitz is a former commissioner of the Commodity Futures Trading Commission (CFTC).
Furthermore, his announcement comes on the same day that SBF was granted bail for $250 million.
The Examiner revealed that Berkovitz had a “cozy relationship” with SBF and FTX. It cited emails obtained by the watchdog Protect the Public’s Trust, which also reported on the resignation.
SBF, FTX General Counsel Ryne Miller, and FTX President Brett Harrison met with Berkovitz at a luxury restaurant in Oct. 2021, it reported.
Michael Chamberlain, director of Protect the Public’s Trust, said:
“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,”