PANews reported on March 12 that SBF, founder of FTX, posted on his X account that former SEC Chairman Gary Gensler not only "declared war" on the crypto industry during his tenure, but also privately pushed in Washington with Senator Elizabeth Warren to weaken the CFTC's authority, concentrating more regulatory power in the SEC , and restricting the compliance of crypto businesses by requiring "licenses that do not actually exist." SBF pointed out that the new SEC Chairman appointed by Trump, Paul Atkins, is more inclined to require only existing licenses to avoid the crypto industry being caught in the power struggle among US federal regulatory agencies.