Sam Bankman-Fried sold a $300 million stake in his failed crypto firm FTX in the same month the company raised $420.69 million dollars through a meme fundraiser that referenced sex and weed.
Sam Bankman-Fried, 30, blamed his ex-girlfriend Caroline Ellison for the collapse of his company. Ellison is the owner of the company Alameda - who the FTX owner said lost his company s money.
As calls grow for greater regulation of crypto, lawmakers are asking why Gensler did not intervene sooner before FTX collapsed, with a fortune owed to investors.