CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto News » Financial Watchdogs Welcome SEC Investigation into Insider Trading at the Fed

Financial Watchdogs Welcome SEC Investigation into Insider Trading at the Fed

Author: Martin Young

Last Updated Oct 7, 2021 @ 06:59

The U.S. Securities and Exchange Commission may be taking a closer look at trading activities behind closed doors at America’s central bank.

Getting your audio player ready...

Better Markets, a non-profit independent organization promoting public interest in financial markets, has reported that it would welcome any action by the SEC investigating insider trading at the Fed.

On Oct. 6, Dennis Kelleher, co-founder, and President of Better Markets stated that a thorough, independent investigation by the SEC is so important.

He stated that the organization welcomes the SEC’s de facto confirmation of its investigation into the trading during the pandemic by numerous Federal Reserve leaders.

Fed Executives Moving Millions

Earlier this week, it was reported that Federal Reserve Vice Chair Richard Clarida traded millions in and out of securities and mutual funds on Feb. 27, 2020, just one day before Fed Chair Powell issued an emergency pandemic statement.

It was also reported that Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren had also actively traded in stocks and real estate assets while the central bank was engaged in an extensive rescue of financial markets as the pandemic worsened. Both Fed executives resigned in late September.

Anti-banking and anti-crypto Senator Elizabeth Warren was particularly incensed and sent a letter to SEC Chair Gary Gensler earlier this week. As she has done with crypto recently, Warren pulled no punches:

“The reports of this financial activity by Fed officials raise serious questions about possible conflicts of interest and reveal a disregard for the public trust. They also reflect atrocious judgment by these officials, and an attitude that personal profiteering is more important than the American people’s confidence in the Fed.”

Tip of The Iceberg

Kelleher echoed the sentiment in his statement yesterday, adding “In addition to violating Fed policies, failing to provide leadership, and violating the public trust by seeking to enrich themselves while their policy actions impacted the price of financial assets, and while apparently in possession of material nonpublic information, this trading may well have violated the law.”

He added that people still have no idea if this trading by a handful of Fed leaders was just the tip of an iceberg of widespread insider trading.

Earlier this week, Gary Gensler said “we as an agency look into things that are brought to our attention,” but did not confirm or deny any of the allegations.

Meanwhile, regulators and a number of hardline politicians still maintain that the crypto industry is the axis of evil when it comes to shady financial dealings.

Featured Image Courtesy of FT

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: Federal Reserve SEC
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Martin J. Young
More posts by this author

Martin has been writing on cybersecurity and infotech for over two decades. He has previous trading experience and has been covering developments in the blockchain and cryptocurrency industry since 2017. Contact Martin: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

10 Best Meme Coins to Watch in June 2025

10 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!