Members of the US House of Representatives, cryptocurrency The exchange will begin their investigation into the collapse of FTX and its overall impact on the digital asset industry, with a hearing scheduled for next month.
House of Representatives to Debate FTX on Dec. 13
The House Financial Services Committee will hold its first FTX-focused hearing on December 13. The hearing, titled “Investigating the Downfall of FTX, Part I,” will likely be part of a series of studies.
FTX, once a $32 billion company, filed for bankruptcy protection earlier this month.
The committee did not release a list of witnesses for the December hearing. Senators have said before that they want former FTX CEO Sam Bankman-Fried to attend, along with related companies, including Bankman-Fried’s trading firm Alameda Research and rival exchange Binance.
McHenry, who will be the likely chair of the committee at the upcoming Congress, said earlier this month that he expects Binance’s role in the crash to be the focus of the hearing as well.
Bankman-Fried will speak at a New York Times summit later this week, but has not yet made public whether he will cooperate with the congressional investigation.
Members of the Senate are also scrutinizing the FTX crisis closely. The Senate Agriculture Committee will hold a hearing on Thursday, and the Senate Banking Committee is also working to schedule an FTX session.
The collapse of the company, which is seen as the second largest cryptocurrency exchange in the world, had a chain effect on the market, and a number of companies, including BlockFi, went into bankruptcy.
*Not investment advice.
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