FTX News: US Rep Maxine Waters Urges Urgent Sam Bankman-Fried’s Hearing

FTX News: Congresswomen Maxine Waters urges an urgent congressional hearing of former FTX founder Sam Bankman-Fried and other executives of FTX and sister firm Alameda Research.

FTX recently asked Congress members to return funds donated by Sam Bankman-Fried and other FTX executives. Waters is one of the few Congress members who received political donations from Sam Bankman-Fried.

Maxine Waters Calls For Urgent Resolution of FTX Case and Sam Bankman-Fried’s Testimony

Ranking Member Maxine Waters on February 10 sent a letter to Patrick McHenry, Chairman of the U.S. House Committee on Financial Services, to call on Sam Bankman-Fried to testify before the committee. She also urges continuing the bipartisan effort to get to the bottom of FTX collapse.

Earlier on Friday, Patrick McHenry sent a letter to SEC Chair Gary Gensler seeking all records on the coordinated investigation with the U.S. DOJ on FTX, Sam Bankman-Fried, and other executives. McHenry gave Gensler two weeks to submit all records.

The U.S. House Committee on Financial Services oversees the work of the US SEC, the U.S. Federal Reserve, the Department of the Treasury, and other financial services regulators.

Waters urges McHenry to immediately ensure the presence of all FTX and Alameda executives in a congressional hearing to urgently conclude their process on the FTX crisis. Also, she wants to take the urgently needed steps to pass legislation in a bipartisan manner that protects investors and prevents another failure like FTX.

FTX News: FTX Asks Politicians to Return Donations

FTX under new CEO John Ray III sent confidential letters to politicians who received almost $93 million in campaign donations from Sam Bankman-Fried and other FTX executives. Congresswomen Maxine Waters is one of the politicians who received donations from Sam Bankman-Fried for political campaigns.

In other FTX news, Sam Bankman-Fried and federal prosecutors reached an agreement regarding his use of encrypted messaging apps and communications with former FTX employees.

Also Read: Ethereum Price Reaches $1500 Psychological Support, Massive Fall Coming?