His extradition hearing has been set for February
, SBF was prepared to apologize for the implosion, but also placed partial blame onto Ray and rival cryptocurrency exchange Binance.Throughout Tuesday’s hearing, lawmakers broadly agreed FTX’s collapse warranted greater regulation of the crypto regulation. But with little time left before the end of the year, McHenry said the committee would pick up negotiations in January.
“The arrest of Sam Bankman-Fried is welcome news, but it still does not get to the bottom of what happened at FTX, and why it happened, and who else may be responsible,” incoming Financial Services Chair Patrick McHenry said in his opening statement.
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