Surprising nobody except, presumably, crypto-bros everywhere, the United States Congress has taken an interest in FTX.
As reported by The Block:
The House Financial Services Committee will
hold a hearing next month on FTX’s collapse and the broader implications
for the digital asset industry.
[...]
“Oversight is one of Congress’ most critical functions and we must
get to the bottom of this for FTX’s customers and the American people,”
said Rep. Patrick McHenry, R-N.C., the top committee Republican, in a
statement. “It’s essential that we hold bad actors accountable so
responsible players can harness technology to build a more inclusive
financial system.”
[Note for Rep. McHenry: There are no responsible players in crypto. Just FYI.]
Rep. Maxine Waters, D-Calif., the current but likely outgoing chair of the House Financial Services Committee, added:
“The 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. Unfortunately, this event is just
one out of many examples of cryptocurrency platforms that have collapsed
just this past year.”
[Oh, good, someone else remembers that Terra/Luna happened.]
It bears emphasizing that Rep. McHenry is a Republican, while Rep. Waters is a Democrat. Yes, in spite of the fact that MAGA Republicans are extremely pro-crypto, the fact that crypto is sufficiently awful that there ought to be a law has bipartisan support.