[ad_1] <br><div id="LiveBlogArticle-featuredContent-3" data-module="featuredContent" data-test="featuredContent-0" data-analytics="LiveBlogArticle-featuredContent-3-0"><span class="HighlightShare-hidden" style="top:0;left:0"/><div class="group"><p><strong>(The listening to is scheduled to begin at 10 a.m. ET. If the above video does not play at the moment, please refresh the web page.)</strong></p><p>The Home Monetary Providers Committee is holding a listening to Tuesday morning on the collapse of cryptocurrency trade FTX following the Monday night time arrest of founder Sam Bankman-Fried within the Bahamas.</p><p>The Justice Division and Bahamian authorities stated Bankman-Fried, who was beforehand scheduled to testify earlier than the panel, was arrested primarily based on an sealed indictment within the U.S. that was unsealed shortly after the listening to began. </p><p>The U.S. Attorneys Workplace for the Southern District of New York charged the disgraced crypto government with eight felony counts: conspiracy to commit wire fraud and securities fraud, particular person expenses of securities fraud and wire fraud, cash laundering and conspiracy to keep away from marketing campaign finance laws.</p><p>John J. Ray, the corporate's new CEO, is the panel's sole witness. The corporate imploded and filed for <a target="_blank" href="https://www.cnbc.com/2022/11/11/sam-bankman-frieds-cryptocurrency-exchange-ftx-files-for-bankruptcy.html" rel="noopener">Chapter 11 bankruptcy</a> final month after reportedly transferring billions of {dollars} in FTX buyer funds to Bankman-Fried's hedge fund, Alameda Analysis.</p><p>The Securities and Change Fee additionally charged the previous crypto <a target="_blank" href="https://www.cnbc.com/2022/11/14/former-ftx-ceo-sam-bankman-fried-loses-lobbyists-to-washington.html" rel="noopener">"darling"</a> Tuesday morning with allegedly "orchestrating a scheme to defraud fairness buyers in FTX Buying and selling," in accordance with the company.</p><p>The Senate Banking Committee had additionally requested Bankman-Fried to testify at a Wednesday listening to that he beforehand refused to attend.</p><p>Previous to his firm's implosion, Bankman-Fried donated nearly $40 million to candidates, campaigns and political motion committees within the 2022 congressional midterm elections, with most of his publicly disclosed contributions going towards Democrats. Ryan Salame, the co-CEO of FTX Digital Markets, donated one other $23 million, with the vast majority of his contributions heading towards Republicans.</p></div></div> <br>[ad_2] <br><a href="https://news.google.com/__i/rss/rd/articles/CBMiiQFodHRwczovL3d3dy5jbmJjLmNvbS8yMDIyLzEyLzEzL2xpdmUtdXBkYXRlcy1mdHgtY29sbGFwc2UtaG91c2UtbGF3bWFrZXJzLWhvbGQtaGVhcmluZy1mb2xsb3dpbmctYXJyZXN0LW9mLWZvdW5kZXItc2FtLWJhbmttYW4tZnJpZWQuaHRtbNIBjQFodHRwczovL3d3dy5jbmJjLmNvbS9hbXAvMjAyMi8xMi8xMy9saXZlLXVwZGF0ZXMtZnR4LWNvbGxhcHNlLWhvdXNlLWxhd21ha2Vycy1ob2xkLWhlYXJpbmctZm9sbG93aW5nLWFycmVzdC1vZi1mb3VuZGVyLXNhbS1iYW5rbWFuLWZyaWVkLmh0bWw?oc=5">Source link </a>