Bitcoin billionaire Sam Bankman-Fried repeatedly asserted, prior to his arrest in mid-December, that he was an ethical businessman who wanted more regulation of cryptocurrencies and wanted his sector to be integrated into the mainstream financial system.
But now that the 30-year-old is being sued for fraud by the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Justice Department, the extensive professional connections he made with both current and former federal regulators run the risk of embarrassing everyone involved.
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