Howard A. Fischer was quoted in a December 14, 2022 article discussing how the SEC tailored its accusations to focus largely on Bankman-Fried allegedly defrauding FTX investors.

“The SEC could have brought a more far-ranging complaint; for example, they could have argued that SBF manipulated the market in various coins, and that these coins were in fact securities." The SEC “chose a simpler case, based on failing to disclose their financial shenanigans to investors,” Mr. Fischer said.