House Financial Services Committee holds hearing on FTX collapse
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#SBF #FTX #yahoofinance The implosion of cryptocurrency exchange FTX has drawn the attention of politicians, with the House and the Senate set to hold hearings on the mess on Tuesday and Wednesday, respectively. The House’s Committee on Financial Services is first up at 10AM ET with a hearing titled, “Investigating the Collapse of FTX, Part I.” Last month, Binance agreed to buy FTX, which was facing a liquidity crisis. Binance backed out a day later after taking a look at FTX’s books. FTX then filed for bankruptcy protection and Bankman-Fried stepped down as CEO. Ray, a corporate restructuring veteran who oversaw Enron’s bankruptcy process, said FTX was in an “unprecedented” […]