The US House of Representatives Financial Services Committee will hold a hearing on the collapse of FTX and its impact on the digital asset industry.
The committee said they expect to hear from “related companies and individuals, including Sam Bankman-Fried, Alameda Research, Binance, FTX and related organizations” for the session scheduled to take place in December.
Committee member Patrick McHenry said:
“Oversight is one of the most critical functions of Congress. For FTX customers and the American public, we have to get to the bottom of it.
It is critical that we hold bad actors accountable so that those responsible can build a more inclusive financial system and leverage technology.”
Representative Maxine Waters, Chair of the House Financial Services Committee, also said:
“The collapse of FTX hurt more than one million people who invested their hard-earned savings on the FTX exchange. But they all disappeared within a few seconds. Unfortunately, this is just one example of many cryptocurrency platforms that crashed in the past year.”
