US House of Representatives Financial Services Committee next month of FTX will hold a session on the collapse and its overall implications for the digital asset industry.
US House of Representatives to Ask Representatives of SBF and Other Cryptocurrency Companies to Attend Session
The committee said it expects to listen to “concerned companies and individuals, including Sam Bankman-Fried, Alameda Research, Binance, FTX, and related organizations, among others,” for a hearing in December.
Patrick McHenry, the committee’s most senior Republican member, said in a statement:
“Oversight is one of the most critical functions of Congress, and we need to get to the bottom of it for FTX’s customers and the American public.
It is essential that we hold malicious actors accountable so that those responsible can leverage technology to build a more inclusive financial system.”
Representative Maxine Waters, who chairs the House Financial Services Committee but will likely step down, added:
“The downfall of FTX was that many of them had to spend their hard-earned savings on FTX. cryptocurrency It wreaked havoc on more than a million users, ordinary people who invested in the stock market, who watched them all disappear in just a few seconds.
Unfortunately, this event is just one of many examples of cryptocurrency platforms that have crashed over the past year.”
McHenry, who is expected to take over as chair of the committee next year, thanked Waters for working together at the session.
“I appreciate President Waters working with Republicans to ensure accountability through a bipartisan process,” the joint statement announcing the session said.
*Not investment advice.
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