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House Committee To Hold Hearing On FTX Collapse Thursday

US

The US House of Representatives Financial Services Committee will hold a hearing on Thursday examining the role Congress should play in the Crypto sector following the collapse of the FTX exchange.

  • Last week, Senators Elizabeth Warren (D-MA) and Sheldon Whitehouse (D-RI) wrote a letter to the Department of Justice urging the DOJ to pursue criminal charges against FTX CEO Sam Bankman-Fried and warning that Congress may need to investigate the sector beyond FTX.
  • The letter read: "As this situation unfolds, new facts will undoubtedly shed more light on how Bankman-Fried and his associates’ deception has harmed FTX’s customers, and customers of any company that was exposed to the contagion – and may reveal that the problems with the crypto industry extend well beyond FTX."
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