{"id":512321,"date":"2022-11-19T06:22:58","date_gmt":"2022-11-19T03:22:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-leadership-pressed-for-information-by-us-subcommittee-chairman\/"},"modified":"2022-11-19T06:22:58","modified_gmt":"2022-11-19T03:22:58","slug":"ftx-leadership-pressed-for-information-by-us-subcommittee-chairman","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-leadership-pressed-for-information-by-us-subcommittee-chairman\/","title":{"rendered":"# FTX leadership pressed for information by US subcommittee chairman"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a418e44834ec\" 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-6a418e44834ec\" 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-leadership-pressed-for-information-by-us-subcommittee-chairman\/#%E2%80%9D_FTX_leadership_pressed_for_information_by_US_subcommittee_chairman_%E2%80%9C\" >&#8221; FTX leadership pressed for information by US subcommittee chairman &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_leadership_pressed_for_information_by_US_subcommittee_chairman_%E2%80%9C\"><\/span>&#8221; FTX leadership pressed for information by US subcommittee chairman &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYzkyMjY5MWQtMzA5YS00Y2I1LTk5ZmYtNGEwZDU4ZGM2NjAyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-887bb764>The former and current CEOs of the bankrupt FTX cryptocurrency exchange have been pressed by the chair of a United States House subcommittee calling for documents relating to the exchange&#8217;s finances.<\/p>\n<p>\u201cFTX\u2019s customers, former employees, and the public deserve answers,\u201d Raja Krishnamoorthi, Chairman of the Subcommittee on Economic and Consumer Policy wrote in a Nov. 18 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/oversight.house.gov\/news\/press-releases\/chairman-krishnamoorthi-presses-ftx-leadership-for-answers-on-company-s-collapse\">letter<\/a> addressed to both former FTX CEO Sam Bankman-Fried and the exchange&#8217;s current CEO John J. Ray III, who took over in the wake of FTX\u2019s bankruptcy filings.<\/p>\n<p>Krishnamoorthi added the subcommittee was \u201cseeking detailed information on the significant liquidity issues faced by FTX, the company\u2019s abrupt decision to declare bankruptcy, and the potential impact of these actions on customers who used your exchange.\u201d<\/p>\n<p>He insisted the exchange hand over a slew of information relating to its finances, including explainers on its liquidity issues, balance sheets from before its collapse in early November, its current crypto holdings, and a plan on how it will repay customers.<\/p>\n<p>Krishnamoorthi also requested information regarding who maintained the exchange&#8217;s finances, any input FTX received from Alameda Research CEO Caroline Ellison, and a de<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\">script<\/a>ion of any \u201cbackdoor\u201d that may have been used to move funds under the nose of auditors or other FTX departments.<\/p>\n<p>The former and current FTX bosses were reminded to submit documentation as part of an Aug. 30 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/oversight.house.gov\/sites\/democrats.oversight.house.gov\/files\/2022-08-30.RK%20to%20Bankman-Fried-FTX%20re%20Crypto%20Fraud.pdf\">request<\/a> to Bankman-Fried asking for information regarding the steps FTX is taking to combat fraud and scams.<\/p>\n<p>Similar letters were sent to the crypto exchanges Binance.US, Coinbase, Kraken, and KuCoin.<\/p>\n<p>The subcommittee set a deadline of Dec. 1 for FTX to procure the requested documentation to help it determine \u201cwhat went wrong at FTX\u201d and what steps Congress could enact to ensure the crypto industry \u201cis appropriately regulated and investors are protected.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>CFTC Commissioner Mersinger says the time has come for action on crypto regulation<\/em><\/strong><\/p>\n<p>The subcommittee&#8217;s deadline coincides with a Nov. 16 announcement of a scheduled December hearing by members of the U.S. House Financial Services Committee that will explore the collapse of FTX and the \u201cbroader consequences for the digital asset ecosystem.\u201d<\/p>\n<p>Krishnamoorthi\u2019s letter follows similar demands laid out on Nov. 16 by Senators Elizabeth Warren and Richard Durbin who wrote to Bankman-Fried and Ray asking for a similar mass of documents related to the collapse of FTX.<\/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-leadership-pressed-for-information-by-us-subcommittee-chairman\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX leadership pressed for information by US subcommittee chairman &#8220; The former and current CEOs of the bankrupt FTX cryptocurrency exchange have been pressed by the chair of a United States House subcommittee calling for documents relating to the exchange&#8217;s finances. \u201cFTX\u2019s customers, former employees, and the public deserve answers,\u201d Raja Krishnamoorthi, Chairman of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":512322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYzkyMjY5MWQtMzA5YS00Y2I1LTk5ZmYtNGEwZDU4ZGM2NjAyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,89897,117,52214,67874],"class_list":["post-512321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-sam-bankman-fried","tag-business","tag-congress","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512321","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=512321"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/512322"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=512321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=512321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=512321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}