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FTX Collapse a Combination of Bad Business Decisions, Fraud, and Possible Money Laundering: Congressman

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FTX Collapse a Combination of Bad Business Decisions, Fraud, and Possible Money Laundering: Congressman
Then CEO of FTX Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee on Capitol Hill, in Washington, on Dec. 8, 2021. Alex Wong/Getty Images
Katie Spence
Updated:
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The crash of the crypto trading company FTX sent shockwaves throughout the digital exchange world. Billions are missing, and companies with ties to FTX, like BlockFi, Genesis, Coinbase, and others, are filing for bankruptcy or struggling to survive.

In response to the crypto debacle, the U.S. House Financial Services Committee announced its plan to investigate FTX. And while its start date isn’t until Dec. 13, there are already reports that FTX founder and CEO Sam Bankman-Fried—or SBF, as he’s known—may be playing fast and loose with the facts.

Katie Spence
Katie Spence
Freelance reporter
Katie Spence is a freelance reporter for The Epoch Times who covers energy, climate, and Colorado politics. She has also covered medical industry censorship and government collusion. Ms. Spence has more than 10 years of experience in media and has worked for outlets including The Motley Fool and The Maverick Observer. She can be reached at: [email protected]
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