United States lawmakers with the Senate Banking Committee had their share of crypto proponents and skeptics in a hearing exploring the collapse of the FTX exchange.
In a Dec. 14 hearing on ‘Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers’, many senators
Many U.S. lawmakers turned their attention to Bankman-Fried and FTX following the bankruptcy filing of the crypto exchange and allegations the former CEO used user assets to fund investments at Alameda Research. Authorities in the Bahamas arrested Bankman-Fried on Dec. 12 as part of extradition proceedings with the United States. He will be held without bail until at least February.
The Senate hearing was the third exploring the collapse of FTX following a Dec. 1 hearing of the Senate Agriculture Committee and a Dec. 13 hearing of the House Financial Services Committee. The House committee said it plans to hold a second hearing on FTX sometime in 2023.
