The House Financial Services Committee will hold a hearing into FTX next month, the committee announced Wednesday.
Rep. Maxine Waters (D-Calif.) and Rep. Patrick McHenry (R-N.C.), respectively the chair and ranking member of the committee, said in a joint statement that the lawmakers would want to hear about the collapse of the crypto exchange and its “broader consequences” for the cryptocurrency ecosystem. The committee plans to hear testimony from now-former FTX CEO Sam Bankman-Fried and representatives from FTX, its sister company, Alameda Research, and Binance, which briefly suggested it would acquire FTX.
FTX’s collapse harmed over a million users, Waters said in a statement,
“Unfortunately, this event is just one out of many examples of cryptocurrency platforms that have collapsed just this past year,” she said. “… [I] know that we need legislative action to ensure that digital assets entities cannot operate in the shadows outside of robust federal oversight and clear rules of the road.”
But she should be disqualified from her position!
A little flashback: In December 2021 FTX founder Sam Bankman-Fried and five other cryptocurrency exchange executives testified before The House Financial Services Committee.
Sam Bankman-Fried and five other cryptocurrency exchange executives testified before The House Financial Services Committee which is chaired by Maxine Waters.
While Bankman-Fried was leaving the hearing Maxine Waters blew a kiss to the mega-Democrat donor.
This smells like on big setup!
These are the people responsible for the hearing:
As most are well aware by now, the disgraced founder of FTX Sam Bankman-Fried was the Democrat party’s second-largest donor just behind George Soros.
In the 2020 presidential election, Bankman-Fried dished millions to the Biden campaign and followed it up by handing out over $40 million dollars to democrats in the 2022 primaries and midterms.
Forbes reported last year that Bankman-Fried also donated to six RINOs who voted to impeach President Trump.
Since July, Bankman-Fried has made $5,800 contributions, the maximum individuals can give directly to Congressional campaigns, to the committees of Bill Cassidy (R-La.), Susan Collins (R-Maine), Lisa Murkowski (R-Alaska), Ben Sasse (R-Neb.), Mitt Romney (R-Utah) and Richard Burr, the North Carolina Republican who announced plans to retire at the end of his term in 2023.
OPINION: This article contains commentary which reflects the author’s opinion
Michelle is American conservative author she is committed to the constitutional principles of individual freedom, economic liberty, limited government, personal responsibility, and traditional values. She is a libertarian and provocateur who believes in freedom and liberty for all Americans. As a passionate journalist, she works relentlessly to uncover the corruption happening in Washington, while exposing politicians and individuals who wish to do us harm.