Senator John Kennedy released a barrage of fiery questions at SEC nominee Paul Atkins during a contentious Senate hearing, threatening to “pounce like a ninja” if the potential commission chair fails to investigate the parents of disgraced FTX founder Sam Bankman-Fried.
Kennedy didn’t mince words. He demanded Atkins commit to investigating alleged benefits received by SBF’s parents – a hefty $16.4 million Bahamas mansion, $10 million in cash, and substantial donations to both Stanford University and Barbara Fried’s political organization “Mind the Gap.”
Kennedy demanded Atkins investigate SBF’s parents’ questionable acquisitions—a $16.4M Bahamas mansion, $10M cash, and hefty donations to Stanford and “Mind the Gap.”
“Will you commit to investigating them?” Kennedy pressed. “This isn’t rocket science.”
Atkins, who wasn’t at the Commission during FTX’s 2022 collapse, promised to review the SEC’s work regarding the elder Bankman-Frieds, particularly Joseph Bankman who reportedly served as a “de facto officer” at FTX. Kennedy seemed skeptical. Classic government response – all talk, no action.
The Louisiana Republican’s questioning reflects growing conservative frustration with perceived preferential treatment for elites. Kennedy emphasized that everyone should face the same standards under law – fancy degrees or not.
Recent developments have only intensified scrutiny. Reports emerged in January that SBF’s parents were seeking a presidential pardon, drawing comparisons to Trump’s pardon of Silk Road founder Ross Ulbricht. Experts consider such a pardon unlikely, but Kennedy isn’t taking chances.
Adding fuel to the fire, SBF recently gave unsanctioned interviews to Tucker Carlson and The New York Sun – both conservative-leaning outlets. These interviews landed him in solitary confinement and transferred to an Oklahoma facility. Strange move for someone whose family has deep Democratic ties.
Stanford University’s connections haven’t escaped Kennedy’s radar either. Despite the university announcing they’d return the $5.5 million Bankman-Fried donation, Kennedy urged investigation into Stanford Law School’s role. The senator labeled SBF’s parents as absolute crooks during the March 2025 Senate Banking Committee hearing.
The evidence suggests that both parents made millions from illegal activities while being directly involved in their son’s fraudulent crypto empire, further strengthening Kennedy’s case for thorough investigation.
Atkins, a former SEC commissioner under George W. Bush known for libertarian-leaning views, committed to divesting from his current business interests within three months of confirmation.
But Kennedy made clear – he’ll be watching. Like a ninja.
