Terry Duffy, CME Head Made The Slip to Say He Bribed CTFC Official

CME Group boss Terry Duffy mentioned on Fox News on Wednesday that he bribed a Commodity Futures Trading Commission (CTFC) official during an interview about the FTX collapse.

Duffy misspoke

The host of Fox News that day, Tucker Carlson asked Duffy, “as someone involved in business, what, why did none of the regulators do that? Where was Gary Gensler?.”

Duffy replied to the question by saying, “ well, “I don’t know where Gary Gensler was, but my regulator at the CTFC I bribed, I asked them, why in the world are you invoking the Commodity Exchange Act?.”

Although Duffy’s statement may have been misinterpreted, as of Sunday afternoon, four days after the TV hit, he had not clarified it.

Read More: US States Open Investigation Into Genesis For Potential Securities Violation

The collapse of FTX was linked to the alleged use of customer funds by Alameda Research, founded by FTX founder Sam Bankman-Fried.

CTFC appoints CME Group director as chief counsel

As previously reported, Kristin Johnson, one of five commissioners serving at the CFTC, announced in May this year that a CME Group executive director with experience in crypto was joining her team.

She said Bruce Fekrat will be her chief counsel at the CFTC effective June 1. He previously worked for the CME Group as an executive director and associate general counsel, where he served as regulatory counsel for digital assets.

Meanwhile, a few crypto twitter users worry that the clip might be manipulated by artificial intelligence.

Read More: Belgium Regulators: BTC, ETH & Other Decentralized Coins Are Not Securities

“This seems like it has been altered. If you ignore the “captions” when watching, it’s pretty obvious. Don’t believe everything you see on the internet, folks,” said one Twitter user. 

Another twitter user also commented similarly,“Besides the fact this is hysterical, I’m realizing how dangerous a manipulated video could be if this wasn’t what he actually said.”

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Jamilatul Mahmudah

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