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Bankman-Fried’s priority crypto bill ‘dead’ after FTX sells to Binance

Quick Take

  • FTX CEO Sam Bankman-Fried’s priority bill is unlikely to pass before Congress ends in January, after FTX sold to Binance amid its token collapse.
  • Bankman-Fried has spent millions on lobbying and political donations, and has been the industry’s most prominent voice in Washington, D.C. 
  • “It’s dead. Dead, dead, dead, dead,” Messari CEO Ryan Selkis said.

FTX CEO Sam Bankman-Fried poured millions of dollars into political races and lobbying costs this year, becoming crypto’s best-known voice in the world of Washington policymaking. 

But minutes after the exchange boss made the shocking decision to sell his company to Binance on Election Day, industry insiders declared that Bankman-Fried’s priority bill was “dead” in Washington — or at least on life support. 

“It’s dead. Dead, dead, dead, dead,” Messari CEO Ryan Selkis said.

Bankman-Fried was the industry’s most prominent advocate for a bipartisan bill authored by Sens. Debbie Stabenow, D-Mich., and John Boozman, R-Ark. The Digital Commodities Consumer Protection Act, intro