A US House Committee meeting on the FTX collapse is set for December 13

A US House Committee meeting on the FTX collapse is set for December 13

House members will begin investigating the fall of the cryptocurrency exchange FTX and its impact on the digital asset market during a meeting scheduled for next month.

The House Financial Services Committee will hold its first hearing on FTX on December 13. Hearing entitled “Investigating the Collapse of FTX, Part I” is likely the first of a series.

Once valued at $32 billion, FTX filed for bankruptcy protection this month. The company’s native utility coin, FTT, crashed after a run.

The committee did not make available the roster of witnesses for the December hearing. Sam Bankman-Fried, the former CEO of FTX, as well as his trading firm Alameda Research and rival exchange Binance, according to Waters and Ranking Republican Rep. Patrick McHenry, R-N.C. McHenry, who will likely preside over the committee in the upcoming Congress, stated earlier this month that the hearing would also focus on Binance’s role in the crash.

Bankman-Fried will discuss the congressional investigation at a New York Times-hosted summit later this week, although he has not yet made this choice public.

Senatorial lawmakers are also studying the FTX situation closely. The Senate Banking Committee is attempting to schedule a hearing on FTX, while the Senate Agriculture Committee will have a hearing on Thursday.

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The post A US House Committee meeting on the FTX collapse is set for December 13 appeared first on NFT News Pro.



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