US House Committee Leadership Threatens Subpoena of SEC Over FTX Documents

Rep. Patrick McHenry, the chair of the United States House Financial Services Committee, has indicated his intention to potentially subpoena the Securities and Exchange Commission (SEC) for documents pertaining to former FTX CEO Sam Bankman-Fried.

During a hearing on September 27 focused on the oversight of the commission, McHenry accused SEC Chair Gary Gensler of attempting to “choke off the digital asset ecosystem” and of failing to be transparent with Congress regarding connections between the SEC, FTX, and Bankman-Fried. The committee chair noted that the SEC had received multiple requests for documents related to the timing of Bankman-Fried’s arrest, especially considering a previously scheduled congressional appearance.