A hearing by the House Financial Services Committee on the collapse of crypto exchange FTX will go on as planned on Tuesday even without the firm’s former CEO and founder Sam Bankman-Fried, who has been arrested.
Bankman-Fried was taken into custody by Bahamas police late on Monday. As soon as the island nation got word that the U.S. had charged the former CEO, reportedly for fraud and money laundering, they arrested him, expecting a request for extradition.
Maxine Waters (D-Calif.), Chairwoman of the U.S. House Financial Services Committee, which will hold the hearing, said she was “surprised” to hear of Bankman-Fried’s arrest and “disappointed” that he would therefore not attend the hearing.
Source: Top US Lawmaker Says FTX Hearing Will Continue Without Sam Bankman-Fried