The United States (US) House Financial Services Committee, which is chaired by Democratic Rep. Maxine Waters, has announced that it will hold a hearing next month to investigate the collapse of the crypto currency giant FTX.
A little flash back: In December 2021 FTX founder Sam Bankman-Fried and five other cryptocurrency exchange executives testified before The House Financial Services Committee.
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As Bankman-Fried was leaving the hearing, footage captured Maxine Waters blowing a kiss to the mega-Democrat donor.
Rep. Maxine Waters this week announced a bipartisan investigation into FTX.
“Today, the Chairwoman of the House Financial Services Committee, Congresswoman Maxine Waters (D-CA), and the Ranking Member of the House Financial Services Committee, Congressman Patrick McHenry (R-NC), announced a bipartisan hearing into the collapse of FTX and the broader consequences for the digital asset ecosystem. In December, the Committee expects to hear from the companies and individuals involved, including Sam Bankman-Fried, Alameda Research, Binance, FTX, and related entities, among others.” The House Committee on Financial Services announced this week.
“The fall of FTX has posed tremendous harm to over one million users, many of whom were everyday people who invested their hard-earned savings into the FTX cryptocurrency exchange, only to watch it all disappear within a matter of seconds. Unfortunately, this event is just one out of many examples of cryptocurrency platforms that have collapsed just this past year. That’s why it is with great urgency that I, along with my colleague Ranking Member McHenry, announce the Committee’s intention to hold a hearing to investigate the collapse of FTX,” said Chairwoman Waters.
“As Chairwoman of the Financial Services Committee, I have led the effort in examining and investigating the digital assets marketplace, and know that we need legislative action to ensure that digital assets entities cannot operate in the shadows outside of robust federal oversight and clear rules of the road. I look forward to holding this important hearing, and uncovering all that Congress must do to ensure this never happens again.”
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