FTX: From White House Meetings to House Arrest in Just Two Years

Realm shires, the parent company of ftx’s u.s.-based businesses, was involved in a situation where they had an office located across the street from the white house and treasury department. the office was closer than both the blockchain association and coin center offices, and ftx paid a $32,000 security deposit for the nonresidential real property. prior to ftx’s bankruptcy, they were the second-largest centralized crypto exchange and sam bankman-fried often took a one-sided approach to conversations with other crypto industry lobbyists.

Events surrounding west realm shires took place in 2021 and 2022. the white house confirmed four meetings with the ftx founder throughout the course of 2022, and in december 2021, sam bankman-fried made his first major appearance in washington, testifying before the house financial services committee. the office was located across the street from the white house and treasury department, and ftx proposed that the lease between them and metropolitan square be marked as “mutually terminated” as of december 21.

Events happened when ftx proposed to mutually terminate the lease with the property owner, metropolitan square associates. ftx updated their policy website with a blog post that included a draft of standards aimed at creating clarity and protecting customers. shortly after the blog post was published, bankman-fried was arrested and charged with multiple crimes. bankman-fried was extradited to the u.s. and placed under house arrest at his parents’ home and he has pleaded not guilty to all charges. his trial is set for october 2, 2023. it is believed that bankman-fried was diligent in creating opportunities to meet with lawmakers and the blog post was an attempt to create clarity and protect customers.


By Evey Lovelace

You May Also Like