FTX Crash News: The digital asset market collapse triggered by the debacle of FTX, the crypto exchange has reached the U.S. House of Representatives. Reports suggest that the group of representatives is planning to launch a hearing of Sam Bankman-Fried (SBF) over the FTX crash.
US Rep to look into FTX crash
Charles Gasparino, a Fox Business Journalist reported that a GOP house is looking for a hearing into SBF created debacle. The hearing will focus on the SBF meeting with the SEC chair, Gary Gensler to create a crypto exchange.
He added that Representatives will also inquire if SBF was given preference because of his ties to the Democratic party. However, Why the commission didn’t see the FTX implosion coming will be the major question.
Earlier, Coingape reported that FTX’s former CEO has been alleged of deeply funding lobbying in Washington DC over the past year. The SEC might come to rescue SBF from this mess.
Gasparino added that Commodity Futures Trading Commission (CFTC) is likely to land under the scrutiny amid FTX crash. It is alleged that SBF hired several former CFTC officials to handle some key roles in the company. However, he also pushed the CFTC to become the key regulator of digital assets in place of the SEC.
Representative Bill Huizenga in a Tweet mentioned that he is glad that both Republicans and Democrats are working together to hold a hearing of the FTX crash and SBF.
The post FTX Crash: SBF To Testify In Front Of GOP House? Here’s What Sources Reveal appeared first on CoinGape.
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