FTX Founder SBF Accuses Gensler of 'Secret War' on Crypto Regulation, Highlights CFTC Clash

Despite being incarcerated in a California federal prison and having his request for a retrial denied, the embattled FTX founder Sam Bankman-Fried (SBF) remains an influential voice in the cryptocurrency regulatory landscape. This time, he's directly targeting U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler.

Gensler is accused of attempting to expand his power.

Regardless of SBF's credibility, the battle between the SEC and the Commodity Futures Trading Commission (CFTC) over cryptocurrency jurisdiction is real and well-documented. Gensler has consistently maintained that the SEC has broad jurisdiction over digital assets, a position the CFTC has openly opposed during his tenure. Federal prosecutors formally opposed SBF's request for a retrial the day before he published this piece, calling his arguments "incoherent" and "fanciful." Judge Lewis Kaplan has yet to rule on the matter. SBF's appeal to the Second Circuit Court is still pending, Caroline Ellison has been released, and the White House has ruled out a pardon.