to venture investments and for lorens to his slim and other ftx executives. all the while he continued to make misleading statement about the financial condition and about its risk management. even in november 2022, faced with billions in customer withdrawal requests that ftx could not fulfill, he misled investors from which he sought more money to plug the holes he had created. his braising multiyear scheme finally came to an end when the tangled web of affiliates filed for bankruptcy on november 11, 2022. that collapse has had far-reaching consequences for ftx customers, for its investors, and for its counter-parties. our investigation into those consequences, into those individuals and entities volume remains ongoing. one immediate takeaway shook
crypto asset prices plummeted in may of 2022, and alameda lenders demanded repayment on billions in loans. to continue propping up his empire, we allege that bankman-fried diverted billions more in ftx customer assets to alameda, even as it was increasingly clear they could not make customers whole. through the summer of 2022, he diverted hundreds of millions more in ftx customer funds to alameda, then used for additional venture investments and for loans to himself and to other ftx executives. all the while he continued to make misleading statements to investors about ftx financial condition and about its risk management. and even in november 2022, faced with billions of dollars in customer withdrawal requests that ftx could not fulfill, bankman-fried mislead investors whom he sought more money to
has he given to you? how well do you know? him i received contributions from ftx executives. and again, it has not changed crypto policy one iota because i m responsive to my constituents and i m responsive to what is best for consumers and for market integrity in for the u.s. dollar on the world stage. that s what i ve been saying since i.c.e. took office. it s what i m saying. now all right. i also want to ask you about your democratic colleague making history today, being elected the first black party leader in congress, hakeem jeffries. extraordinary for your party. but democrats are still going to be in the minority. how are you gonna get things done next term? there s an old joke that democrats fall in love and republicans fall in line, and today democrats fell in love and fell in line. we unanimously rallied behind the dynamic young leader who is going to take us back into the
ftx and without precedent, and they need to be prosecuted to the fullest extent of the law. we also need to have accountability, though, about why there is this insight into these crimes while they were actually happening. because, again, sec chairman tells congress he has the laws he needs to inspect crypto exchanges. why was there no real time oversight here. we need answers. did ftx ever donate to you? i received support from crypto industry as well as from crypto detractors. it hasn t changed my crypto policy one bit which is to say that we need strong and clear regulations across the board. yes but has ftx, super pac, has he given to you? how well do you know? him i received contributions from ftx executives. and again, it has not changed crypto policy one iota because i m responsive to my constituents and i m responsive to what is best for consumers and for market integrity in for the u.s. dollar on the world stage. that s what i ve been saying since i. c. e. took office.
ftx directly our coalition of these groups, but some of these lawmakers were beneficiaries of the spending by the super pacs that were funded by ftx executives, including ted budd of north carolina, who s now senator elect. ted budd was the beneficiary of hundreds of thousands of dollars of spending by this ftx. coach if executive ryan representatives i called their offices but they didn t respond my request for comment. when they successful in this letter? did they get the fcc to stop? it s not clear. we don t know what the fcc ultimately was going to do. they certainly preferred, and they actually indicated an a questionnaire that they sent around, but the super pac that was funded sent around to candidates sort of intimating that they would prefer that this regulation