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Will FTX group collapse in December?

Nov. 16 (UPI) -- The House Financial Services Committee announced Wednesday it plans to hold hearings in December to investigate the collapse of cryptocurrency exchange FTX Group.

Will the house look into FTX's actions?

The House will look into FTX's actions. The US House of Representatives Financial Services Committee will hold a hearing about the bankruptcy filing of crypto exchange FTX in December, the committee announced Wednesday. The hearing will investigate the collapse of FTX, as well as the ramifications of the company filing for bankruptcy.

What will the FTX committee look for?

It will also look into the ecosystem of digital assets, which has minimal government regulations. The committee plans to hear from FTX founder and former CEO Sam Bankman-Fried, as well as from individuals from his trading firm Alameda Research and from Binance, the largest crypto exchange.

Should FTX be held accountable?

U.S. Representative Patrick McHenry, the top Republican on the House Financial Services Committee, said, "we must get to the bottom of this for FTX’s customers and the American people. It’s essential that we hold bad actors accountable so responsible players can harness technology to build a more inclusive financial system."

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