The hearing to investigate the circumstances that led up to the failure of the cryptocurrency exchange FTX will be held, according to an announcement made by the House Financial Services Committee of the United States Congress.
Maxine Waters, the chairwoman of the House Financial Services Committee, stated on November 28 that the investigation that will take place on December 13 will investigate every aspect of FTX’s failure and is only the first in a long series of hearings into the failure of Sam Bankman Fried’s platform.
House Financial Services to hold FTX hearing on Tuesday, December 13 at 10 am. This hearing title is “Investigating the Collapse of FTX, Part 1”https://t.co/SYbvJsGNhf
— Crypto Exposed (@CriptoExposed) November 29, 2022
The bankruptcy hearing for the FTX cryptocurrency exchange.
At a hearing that is planned to take place on December 13, legislators will launch an investigation into the failure of the cryptocurrency exchange FTX as well as the more widespread effects that this event had on the digital asset industry.
It is likely that this hearing, which has been given the title “Investigating the FTX Collapse, Part I,” will be the first of a series.
The Financial Services Committee of the United States House of Representatives has not yet distributed any witness lists in preparation for the hearing scheduled for December.
The senators who will serve on the committee, Maxine Waters and Patrick McHenry, have previously expressed a great desire for Sam Bankman Fried, the former CEO of FTX, to be present at the hearing in order to represent his two firms that are engaged, FTX and Alameda Research.
In addition, the possible head of the congressional committee that will hold a hearing on December 13 disclosed in an interview that he anticipates Binance, an alternative exchange to FTX, will play a significant role during the hearing.
He anticipates that Binance will play a pivotal role during the hearing so that he may gain insight into the perspective of the exchanges and better understand FTX’s inappropriate actions. Later on this week, Sam Bankman-Fried is scheduled to speak at a conference hosted by the New York Times; however, he has not yet indicated in a public setting whether or not he will participate with the congressional probe.
In addition, members of the Senate are looking into the FTX situation in greater detail.