House hearing on FTX after Sam Bankman-Fried’s arrest - 12/13 (FULL LIVE STREAM)
December 13, 2022
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5:50:15Now PlayingHouse hearing on FTX after Sam Bankman-Fried’s arrest - 12/13 (FULL LIVE STREAM)
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as posted by the channelJoin Post reporters as a House committee holds a hearing on Dec. 13 on the collapse of crypto giant FTX. Former CEO Sam Bankman-Fries was scheduled to testify, but was arrested in the Bahamas a day prior. The Securities and Exchange Commission has since charged him with orchestrating a scheme to defraud equity investors.
Bankman-Fried, once one of the richest people in the world on paper, now stands accused of using at least $8 billion in customer funds to prop up Alameda Research, a trading firm he also founded. FTX failed in November after customers tried to withdraw their assets amid growing doubts about the company’s financial strength. Bankman-Fried has said that he takes responsibility for FTX’s implosion, which stands to impact more than one million people.
Libby Casey will anchor live coverage along with James Hohmann in the studio. Rhonda Colvin will report live from the U.S. Capitol. Read moreSubscribe to The Washington Post on YouTube
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