On March 28, COINOTAG reported that Paul Atkins, the **nominated chairman** of the U.S. Securities and Exchange Commission (**SEC**), raised concerns regarding reports involving the parents of former FTX CEO Sam Bankman-Fried. During a Senate Banking Committee confirmation hearing, he addressed the implications of their potential benefits from both the **cryptocurrency** exchange and **Stanford University**. Republican Senator John Kennedy questioned Atkins about the SEC’s understanding of the ties between Bankman-Fried’s family and the recent **crypto downturn**.
Acknowledging his limited knowledge due to his absence from the SEC during the **FTX crisis** in late 2022, Atkins expressed his commitment to reviewing prior investigations related to Bankman-Fried’s parents. This acknowledgment marks an essential step as the SEC scrutinizes the complexities surrounding the relationships that may have influenced the collapse of one of the leading names in the cryptocurrency sector.