House Financial Services Committee holds a hearing to investigate FTX collapse — 12/13/22

The House Financial Services Committee holds a hearing to investigate the collapse of cryptocurrency exchange FTX with current CEO of FTX John J. Ray.

The hearing comes after the Monday night arrest of FTX founder Sam Bankman-Fried in the Bahamas.

The Justice Department and Bahamian authorities said Bankman-Fried, who was previously scheduled to testify before the panel, was arrested based on an sealed indictment in the U.S. that the U.S. Attorneys Office for the Southern District of N plan to publicly release Tuesday.

John J. Ray, the company’s new CEO, is now the panel’s sole witness. The company imploded and filed for Chapter 11 bankruptcy last month after reportedly transferring billions of dollars in FTX customer funds to Bankman-Fried’s hedge fund, Alameda Research.

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LHouse Financial Services Committee holds a hearing to investigate FTX collapse — 12/13/22