Hello dear readers, as of today it was publicly announced that the U.S. Congress announced that it will investigate the collapse of FTX, the cryptocurrency exchange platform that filed for bankruptcy last week, leaving losses that could amount to billions of dollars.
The House Financial Services Committee indicated Wednesday that it expects to question Sam Bankman-Fried, the 30-year-old founder and CEO of FTX, who was seen as a hero in the cryptocurrency community but could now face civil and criminal charges.
The commission also wants to question representatives of FTX and other cryptocurrency exchanges such as Binance and Alameda Research at hearings scheduled for December.
The FTX crash has caused great harm to more than a million users, many of whom were ordinary people who invested their hard-earned savings in the FTX platform, only to see it disappear in a matter of seconds, committee chairwoman Maxine Waters, a Democrat, said in a statement.
FTX filed for protection from creditors on Friday, rocking the cryptocurrency world, which has suffered major shocks this year, including a precipitous drop in the price of Bitcoin and other digital currencies.
Reuters. U.S. House committee to hold hearing on collapse of FTX. Link