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Business Maverick: FTX Latest: House, Senate Line Up Hearings to Investigate Crash

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House and Senate panels are planning hearings in December about bankrupt crypto exchange FTX and its former chief executive officer, Sam Bankman-Fried, amid renewed calls for Congress to strengthen regulation and oversight for the industry.

The House Financial Services Committee is seeking testimony from Bankman-Fried, his trading house Alameda Research, rival exchange Binance, as well as other FTX employees. US and Bahamian authorities are alsoCrypto Exchange Tokens Pose Extreme Risks, BOE’s Cunliffe Says when accepted by their issuers as collateral, Cunliffe said.

Prices for essentially identical assets on various platforms are diverging in a clear sign the dominoes are still falling across the crypto trading world. The gap between the funding rates of identical Bitcoin futures on Binance and OKEx, for instance, has been as wide as an annualized 101 percentage points and remained at least 10, compared to mostly single-digit gaps last month.

 

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Business Maverick: Crypto markets sag as funds drained from FTX switch out of EtherCryptocurrency prices struggled on Monday in the ongoing crisis sparked by the downfall of Sam Bankman-Fried’s once powerful FTX empire. Hopefully the adverts that see encouraging small and large investors will disappear. People have lost life savings to this well presented scam.
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