SEC official Berkovitz resigns over relationship SBF & FTX

Dan Berkovitz announced that he is leaving his job from the SEC agency by next month.

Dan Berkovitz is the current General Counsel for the U.S. Securities and Exchange Commission (SEC). The SEC agency is known as a strict financial regulatory body in the US. Due to unclear regulatory policies over the crypto sector, this agency targets all those crypto projects which violate the securities Act directly or indirectly through their corresponding financial activities.

On 22 Dec, Washington Examiner reported that Dan Berkovitz announced resignation from the SEC agency on 31 Jan 2022. 

Berkovitz stated:

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“After thirty-four years of public service, it is time for me to pursue new and different challenges and opportunities.”

Before the SEC, Berkovitz was commissioner at the Commodity Futures Trading Commission (CFTC), another financial regulatory body in the United States.

On behalf of an email, “Protect the Public’s Trust” confirmed that there was a deep connection between Berkovitz & FTX founder Sam Bankman-Fried (SBF).

Connections with FTX revealed via @PublicsTrust FOIA.https://t.co/ItvOt3CGwe

— Protect the Public's Trust (@PublicsTrust) December 22, 2022

The investigation found that in Oct 2021 SBF, FTX General Counsel Ryne Miller, and FTX President Brett Harrison met with Berkovitz at a luxury restaurant.

Michael Chamberlain, director of Protect the Public’s Trust, said that before FTX’s bankruptcy SBF was trying to manipulate the regulation system to get advantages.

Republican Senator Tom Emmer also shared his opinion on such types of reports and claimed that SBF was trying to establish a special kind of regulation system to provide significant benefits to the FTX exchange.

.@GaryGensler and the SEC had more meetings with SBF and FTX/IEX than anyone else in crypto, allegedly to craft a special regulatory framework designed to benefit FTX alone.

Making backroom regulatory deals with bad actors is not a tool in the SEC’s toolbox. https://t.co/LgigWeM8v5

— Tom Emmer (@RepTomEmmer) December 22, 2022

Read also: FTX lawyers ask court to keep 56M HOOD shares frozen

SEC official Berkovitz resigns over relationship SBF & FTX

 

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