Another adds: "Crypto executives who break the law are just like any other crooks. If Sam Bankman-Fried committed fraud, then federal prosecutors should send him to prison."
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Reaction to Sam Bankman-Fried's arrest in The Bahamas has been coming in thick and fast.
A particular bone of contention concerns the timing — given how he was due to testify in front of the House Financial Services Committee just hours later.
Renowned crypto skeptic Peter Schiff tweeted:
"From a tactical perspective, I don't understand why the U.S. government didn't wait until after @SBF_FTX testified under oath before Congress tomorrow before charging him with a crime. Prosecutors actually did #SBF a favor by saving him from himself."
Indeed, U.S. politicians who were due to question Bankman-Fried were also struggling to conceal their disappointment at these latest developments.
Sharing a statement that was released by the Prime Minister of The Bahamas, Rep. Academy Ocasio-Cortez tweeted:
"While I am disappointed we will not have the opportunity to present our line of questioning, we look forward to more information coming to light and justice being served in this case."
The chairwoman of the House Financial Services Committee, Rep. Maxine Waters, also said that she was "surprised" that this arrest had happened at the direction of the U.S. Attorney for the Southern District of New York — a sign perhaps that the left hand didn't know what the right hand was doing.
"Although Mr. Bankman-Fried must be held accountable, the American public deserves to hear directly from Mr. Bankman-Fried about the actions that've harmed over one million people, and wiped out the hard-earned life savings of so many. The public has been waiting eagerly to get these answers under oath before Congress, and the timing of this arrest denies the public this opportunity."
Sen. Cynthia Lummis — a vocal supporter of Bitcoin who has been pushing for an overhaul in how crypto is regulated in the U.S. — tweeted:
"What happened at FTX appears to be good, old-fashioned fraud, and I'm glad prosecutors have been investigating what happened to ensure everyone who committed crimes is held accountable for what they did. People lost their hard-earned money, and they deserve justice for any wrongdoing."
Sen. Elizabeth Warren, who has long been critical of the industry, wrote:
"Crypto executives who break the law are just like any other crooks. If Sam Bankman-Fried committed fraud, then federal prosecutors should send him to prison."
