Q: any fair-minded person has to look at FTX kids and go, “Where was everybody? Where was the SEC?”

#shorts Senator Kennedy asked SEC Chair Gensler, “I mean, his dad is a chaired professor at Stanford Law School … this was an accident waiting to happen, and I don’t understand where the SEC was.

Gensler: So, sir, I would say that the whole field has hurt more Americans than it should.

Kennedy: Yeah, but I’m talking about FTX. I mean, we look back at FTX. I mean, the senator just made this point, and we have this elaborate complex regulatory machinery, the SEC, which is supposed to guarantee transparency and combat fraud, and any fair-minded person has to look at FTX and Mr. Bankman-Freed and these kids and go, ”… Where was everybody? Where was the SEC?”

Gensler: And I would say where we were is my predecessor and also under my honor to be chair, we’ve brought 140 or 150 actions. There are 15 to 20,000 tokens, and there are dozens of the facts.

On 7/19/2023, Senator Kennedy confronted Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), questioning the agency’s authority and competence in curbing fraud within the cryptocurrency industry. He zeroed in on the case of FTX, the crypto exchange founded by the “over-haired” and “under-dressed” young billionaire, Sam Bankman-Fried. The senator expressed incredulity that the SEC had not proactively investigated FTX despite the conspicuous activities and grand ambitions of its founder. Kennedy highlighted that the SEC’s regulatory machinery, intended to guarantee transparency and combat fraud, appeared to have failed in the face of this disruptive new industry. He criticized the SEC for not sending investigators to probe FTX and for failing to halt its operations until basic, fundamental questions were answered.

other clips of this published longer video is here: https://youtu.be/6QPpqLOj1aw Q: any fair-minded person has to look at FTX kids and go, “Where was everybody? Where was the SEC?”