TALLAHASSEE (FLV) – Florida Chief Financial Officer Jimmy Patronis sent a letter to the Florida Office of Financial Regulation encouraging them to aid Floridians impacted by the recent collapse of cryptocurrency exchange firm FTX.
The now-bankrupt founder of FTX Sam Bankman-Fried reportedly infused over $40 million into Democrat groups during the 2022 election cycle. The firm was forced to file for bankruptcy in November 2022 after a full-fledged liquidity crisis.
When FTX collapsed, many individuals who invested in the firm lost their funds.
In Patronis’ letter to the Florida Office of Financial Regulation Commissioner Russell Weigel, he said he expects the agency to use “every tool at its disposal to ensure Floridians who had their money stolen are not lost in the fog of war.”
“Unfortunately, we have Floridians who were duped, and to the degree the State of Florida can take a more proactive approach to help Floridians get their money back, it seems we should,” Patronis wrote. “As the Florida Office of Financial Regulation (OFR) is the main entity charged with protecting Florida consumers from fraud within the financial services sector, it is my expectation the agency is using every tool at its disposal to ensure Floridians who had their money stolen are not lost in the fog of war. As you are aware, the OFR has a number of tools at its disposal that could prove useful in helping Floridians in getting some, or all, of their money back in an expedited manner.”
Patronis said if OFR needs “additional investigatory support,” since it will be “complicated,” his office will assist in the investigation to help Floridians who may have been impacted.
“Additionally, within my powers and responsibilities as Chief Financial Officer are subpoena authority related to unclaimed property. If OFR requires additional investigatory support, my office is prepared to assist. No doubt, getting to the bottom of what happened and figuring out what happened to all of the money and where it went will be complicated. A collapse this size can only happen when leadership is stealing people’s money, and we need to make sure we’re doing everything possible to help Floridians who may have been impacted by this house of cards,” Patronis said.