Maxine Waters Demands Immediate Congressional Hearing for FTX Executives
Congresswoman Maxine Waters has written a letter to Patrick McHenry, Chairman of the U.S. House Committee on Financial Services, calling for a prompt hearing of former FTX founder Sam Bankman-Fried and other executives from FTX and Alameda Research.
FTX Investigation: SEC and U.S. DOJ Join Forces
In response to Waters’ request, Chairman McHenry sent a letter to SEC Chair Gary Gensler seeking all records related to the coordinated investigation with the U.S. Department of Justice (DOJ) on FTX, Sam Bankman-Fried, and other executives. The U.S. House Committee on Financial Services oversees the operations of financial regulators such as the SEC, the Federal Reserve, and the Treasury Department.
Urgent Measures Needed to Protect Investors and Prevent Another FTX Scenario
Waters is urging McHenry to bring all FTX and Alameda executives to a congressional hearing as soon as possible to resolve the FTX crisis. Additionally, she is pushing for the passing of bipartisan legislation to protect investors and prevent similar failures in the future.
FTX Calls for Politicians to Return Campaign Donations
Under new CEO John Ray III, FTX has sent confidential letters to politicians who received approximately $93 million in campaign contributions from Sam Bankman-Fried and other FTX executives. This includes Congresswoman Maxine Waters, who received donations from Bankman-Fried for her political campaigns.
FTX Update: Bankman-Fried Reaches Agreement with Federal Prosecutors
In other FTX news, Sam Bankman-Fried and federal prosecutors have come to an agreement regarding his use of encrypted messaging apps and communications with former FTX employees.