Crypto collapse: FTX first-day hearing, Genesis screws DCG, Silvergate Bank

> The SEC tried to look into FTX earlier this year, but eight members of the US Congress — “the blockchain eight” — wrote to SEC Chair Gary Gensler in March telling him to back off. [Letter, PDF]

That's a bit of a stretch, given that the letter [1] doesn't even mention FTX by name, and just asks 13 questions

> To help us understand how and why the SEC is soliciting information from private firms related to cryptocurrency and blockchain, we ask you please respond to the following questions as soon as possible, but no later than April 29, 2022

such as

> 8. When a voluntary document request is sent, does the SEC indicate to the firm whether the SEC has already launched an informal investigation into the company?

The 8 congress members fail to disclose their crypto campaign donations in the letter though (one received $500k from a Super PAC created by FTX Digital Markets co-CEO Ryan Salame).

[1] https://emmer.house.gov/_cache/files/0/c/0c7fc863-7916-4b19-...