Will FTX group collapse in December?

Nov. 16 (UPI) -- The House Financial Services Committee announced Wednesday it plans to hold hearings in December to investigate the collapse of cryptocurrency exchange FTX Group.

Will the house look into FTX's actions?

The House will look into FTX's actions. The US House of Representatives Financial Services Committee will hold a hearing about the bankruptcy filing of crypto exchange FTX in December, the committee announced Wednesday. The hearing will investigate the collapse of FTX, as well as the ramifications of the company filing for bankruptcy.

What will the FTX committee look for?

It will also look into the ecosystem of digital assets, which has minimal government regulations. The committee plans to hear from FTX founder and former CEO Sam Bankman-Fried, as well as from individuals from his trading firm Alameda Research and from Binance, the largest crypto exchange.

Why did FTX customers withdraw before filing for bankruptcy?

Customers were withdrawing from FTX at increased rates just days before they filed for bankruptcy. Bankman-Fried was arrested on December 12, 2022, a month after FTX’s collapse.