{"id":510869,"date":"2022-11-16T19:00:45","date_gmt":"2022-11-16T16:00:45","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-collapse-was-a-dumpster-fire-says-us-lawmaker-announcing-investigative-hearing\/"},"modified":"2022-11-16T19:00:45","modified_gmt":"2022-11-16T16:00:45","slug":"ftx-collapse-was-a-dumpster-fire-says-us-lawmaker-announcing-investigative-hearing","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-collapse-was-a-dumpster-fire-says-us-lawmaker-announcing-investigative-hearing\/","title":{"rendered":"# FTX collapse was a &#8216;dumpster fire&#8217;, says US lawmaker announcing investigative hearing"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26b770317ca\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26b770317ca\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-collapse-was-a-dumpster-fire-says-us-lawmaker-announcing-investigative-hearing\/#%E2%80%9D_FTX_collapse_was_a_%E2%80%98dumpster_fire_says_US_lawmaker_announcing_investigative_hearing_%E2%80%9C\" >&#8221; FTX collapse was a &#8216;dumpster fire&#8217;, says US lawmaker announcing investigative hearing &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_collapse_was_a_%E2%80%98dumpster_fire_says_US_lawmaker_announcing_investigative_hearing_%E2%80%9C\"><\/span>&#8221; FTX collapse was a &#8216;dumpster fire&#8217;, says US lawmaker announcing investigative hearing &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZmY3YjRhY2MtMzUxMy00MWQ5LTgyNjQtYzUzNGQ4Yzc1ZjUwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-887bb764>Members of the United States\u2019 House Financial Services Committee have scheduled a December hearing aimed at exploring the collapse of crypto exchange FTX and \u201cbroader consequences for the digital asset ecosystem.\u201d<\/p>\n<p>In a Nov. 16 announcement, the House committee <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/republicans-financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=408471\">said<\/a> it expected to hear from individuals and companies involved in the events which led to the FTX Group filing for bankruptcy under Chapter 11, including former CEO Sam Bankman-Fried \u2014 also known as SBF \u2014 Alameda Research, and Binance. It\u2019s unclear whether Binance CEO Changpeng Zhao, who has also been vocal on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> about his discussions with SBF and FTX, will make an <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earance.<\/p>\n<p>\u201cThe 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,\u201d said House Financial Services Committee chair Maxine Waters. \u201cWe 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.\u201d<\/p>\n<p>Committee ranking member Patrick McHenry also expressed support for the FTX investigation, saying it was essential to \u201cbad actors accountable\u201d and deliver oversight for the exchange\u2019s users. McHenry will likely become chair of the committee in January should Republicans gain majority control of the House of Representatives. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/NEW?src=hash&amp;ref_src=twsrc%5Etfw\">#NEW<\/a>: Republican Leader <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PatrickMcHenry?ref_src=twsrc%5Etfw\">@PatrickMcHenry<\/a> and Chairwoman <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RepMaxineWaters?ref_src=twsrc%5Etfw\">@RepMaxineWaters<\/a> announce a hearing to investigate the collapse of FTX.<\/p>\n<p>Read more: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/0UnDiFNHWB\">https:\/\/t.co\/0UnDiFNHWB<\/a><\/p>\n<p>\u2014 Financial Services GOP (@FinancialCmte) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FinancialCmte\/status\/1592894108322127872?ref_src=twsrc%5Etfw\">November 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Waters <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=vSs9RSh12f8\">said<\/a> in a Nov. 16 hearing on oversight of financial regulators that FTX operated \u201cin the shadows\u201d and hinted lawmakers needed to establish \u201cclear rules of the road\u201d for crypto firms. McHenry addressed lawmakers and the heads of federal agencies at the same hearing, saying Congress \u201cmust develop a clear regulatory framework for the digital asset ecosystem,\u201d focusing on platforms:<\/p>\n<blockquote><p>\u201cWe\u2019ve coordinated between the minority party and the majority party to get this hearing on the books [&#8230;] there is no sugarcoating it: the FTX collapse has been a dumpster fire.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>FTX under investigation in the Bahamas for criminal misconduct: Report<\/em><\/strong><\/p>\n<p>Authorities in the United States have reportedly begun coordinating with their counterparts in the Bahamas to potentially extradite SBF to the U.S. for questioning. Reports suggest that FTX was\u00a0under investigation in the Bahamas \u2014 where its FTX Digital Markets arm, as well as many company executives including SBF, are located \u2014 Turkey, and the U.S. attorney\u2019s office in the Manhattan district of New York. According to FTX\u2019s bankruptcy filings, the exchange could be accountable to more than one million creditors.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ftx-collapse-was-a-dumpster-fire-says-us-lawmaker-announcing-investigative-hearing\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX collapse was a &#8216;dumpster fire&#8217;, says US lawmaker announcing investigative hearing &#8220; Members of the United States\u2019 House Financial Services Committee have scheduled a December hearing aimed at exploring the collapse of crypto exchange FTX and \u201cbroader consequences for the digital asset ecosystem.\u201d In a Nov. 16 announcement, the House committee said it&#8230;<\/p>\n","protected":false},"author":1,"featured_media":510870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZmY3YjRhY2MtMzUxMy00MWQ5LTgyNjQtYzUzNGQ4Yzc1ZjUwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,52214,73157,70934,67874],"class_list":["post-510869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-congress","tag-investigation","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=510869"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/510870"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=510869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=510869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=510869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}