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March 15, 2023
cryptocurrencyEthics in GovernmentFederal ReserveFinancial RegulationFintech
RELEASE: Michael Barr's Fintech Partnerships May Cloud Judgment Of SVB Autopsy
As of now, Barr is assigned to investigate supervisory failures that occurred under his watch featuring a bank that catered in particular to the crypto and fintech industries which Barr was so active in immediately prior to revolving back into government. Barr is a walking conflict of interest. His central role in the investigation is damning
March 09, 2023
Revolving Door Project Warns Of Crypto-Friendly Congressmen Ahead Of Subcommittee on Digital Assets, Financial Technology, and Inclusion Hearing
The Bipartisan Group That Once Defended Crypto Firms From SEC Investigations May Have Gone Silent In Recent Months, But Their Crypto Loyalties Remain.
January 18, 2023
Larry Summers Must Answer for Years of Revolving Door Service to Collapsing Crypto Company
The media must stop treating Summers as an impartial expert and recognize how he uses his status in the economic media to provide credibility to corporations.
January 11, 2023
Larry Summers Advised A Possible Crypto Fraudster. Is Anyone Going To Ask Him About It?
Considering how much of the financial press eagerly solicits Summers’ take on every imaginable economics topic, it’s bizarre that no reporters have gotten his thoughts about his involvement in this crumbling company, and the asset class it promotes.
December 14, 2022 | Revolving Door Project Newsletter
Real Politicians Stay Bought by Fake Money Tycoons
Sam Bankman-Fried may have been arrested, but his influence campaign in DC is continuing unabated, with Members of the House and Senate looking to use FTX’s collapse to push for SBF’s hand-picked regulatory framework and undermine the work of SEC Chair Gary Gensler.
November 23, 2022 | The New Republic
Timi Iwayemi Dylan Gyauch-Lewis
Congressional OversightcryptocurrencyFinancial RegulationIndependent Agencies
Don’t Fall for FTX’s Final Con
The FTX disaster should be all the impetus needed to kill off any new crypto industry–approved legislation. Instead, we need Congress to provide material support for financial regulators in the form of increased appropriations to guard against the next collapse. Much of the crypto industry is already subject to laws—the very ones that the SEC seeks to enforce and that the crypto industry broadly (not just Sam Bankman-Fried) seeks to evade by reducing the SEC’s jurisdiction ex post facto. Both the CFTC and SEC urgently need funds to fulfill their mandates. Crypto stretches these needs even further, but the need has existed for years. For decades, financial crimes have too often gone unpunished. This wasn’t for a lack of rules, but a lack of will, funds, and people willing to enforce them. Crypto doesn’t need special treatment, it needs to face the music.
November 23, 2022 | Revolving Door Project Newsletter
A Few Things We Aren't Thankful For
Hello everyone, and welcome to a special holiday edition of the RDP Newsletter. Since we’re off for Thanksgiving tomorrow and Friday, this week’s edition will be a bit more off the cuff and includes some material that would normally be in our Hack Watch newsletter. So sit back, relax, and enjoy.
November 18, 2022 | Revolving Door Project Newsletter
To Dispel a Mirage
The political world is looking altogether different today than it did last week. With the midterm vote counts and global climate conference wrapping up, while one billionaire throws lighter fluid on the long-smoldering fire that is Twitter1 and another billionaire-no-longer’s crypto exchange goes up in smoke, attention is spread thinner than Lauren Boebert’s apparent margin of victory. (The race is headed to a recount.)
November 17, 2022
The Public Does Not Need Another Fintech-Friendly Regulator
At a critical juncture such as this where the industry seeks kid-glove treatment from regulators, backgrounds such as Harris’s should be disqualifying.
November 16, 2022 | Revolving Door Project Newsletter
Hack Watch: Summers's Cyber Speculation
How The Former Treasury Secretary Boosted Crypto Bros
November 14, 2022 | The Nation
Money From Nothing: Sam Bankman-Fried’s Crypto Shakedown
The rapid meltdown of FTX stands as one of the most gruesome chapters in the annals of investment fiascos: think of the false technological promises of Elizabeth Holmes’s Theranos grift combined with the evaporation of Bernie Madoff’s prestigious Ponzi fund. But the saga of FTX involves much more than either the vanity and hubris of Holmes’s fraud offensive or the deceptive practices of the Madoff scam. The rapid rise and fall of Bankman-Fried points up the delusional character of information-age capitalism; Far from standing as an outlying trend within the crypto investment world, Bankman-Fried’s scam was nestled at the very heart of its prevailing business model.
September 30, 2022
Politico Rolls Out The Red Carpet For Ripple And Securities Fraud
Boosters of Ponzi products should not be granted the freedom to tout their products without ample pushback and skepticism. Because, as is all too common in Washington, when this media cover is combined with other forms of political pressure including lobbying and campaign donations, industry interests take precedence over the public’s. Politico knows where to find skeptical voices; they had Healthy Markets President and CEO Ty Gellasch on the panel that followed Alderoty’s remarks, albeit alongside three other preachers of crypto’s so-called greatness.
September 01, 2022
RELEASE: FTX’s Revolving Door Hiring And Crypto Policy Proposals Are A Danger To Consumers
Government officials in Congress and at independent agencies like the CFTC should focus on protecting consumers and ignore any entreaties from their former colleagues who now represent the industry’s interests.
August 04, 2022 | The American Prospect
Proposed Stablecoin Legislation Is Worse Than Nothing
Better still, the government could consider more aggressive action. Application of existing law would bring some stability to the stablecoin space, but there is one more simple and effective option: banning them outright. Stablecoins are an essential component of a deeply fraudulent industry that is financially and environmentally destructive. Guaranteeing their existence is an unnecessary risk.
July 08, 2022
Top SEC Enforcement Officials Take A Swing Through The Revolving Door
In another notable swing through the revolving door between government and BigLaw, two top Securities and Exchange Commission enforcement officials recently joined Willkie Farr & Gallagher LLP as partners. They join former SEC general counsel Robert Stebbins and former CFTC commissioner Christopher Giancarlo as government alumni at the firm.