Which is strange since it would have unveiled his insolvency, unless the bill he wanted had loopholes or he figured he could steal more from international to fill the hole?

From my understanding SBF was lobbying AGAINST DeFi. And lobbying for as many crypto as possible to be considered commodities instead of securities.

He was definitely not lobbying for more oversights in centralized industry players.

To be fair, there are already sufficient law and power to use against centralized industry players. It's not going to help when SEC rather go after the Kardashians and then mingle with SBF himself right after. Laws are not the problem. Using existing laws fairly and evenly instead of selectively towards all players. That's the problem.