Investing.com — U.S. House Financial Services Committee Chair Maxine Waters tweeted (NYSE:TWTR) Wednesday that FTX founder Sam Bankman-Fried's trial has been determined to go ahead, according to Reuters.
Recall: Bankman-Fried has faced scrutiny from regulators in the US and elsewhere following the collapse of Bahamas-based crypto exchange FTX, which filed for bankruptcy following a liquidity crunch that wiped out at least $1 billion of client funds.
The House Financial Services Committee has scheduled a hearing in this case, and Committee Chair Waters tweeted: “He was asked to testify at the Dec. 13 hearing. There is definitely a subpoena.”
In addition, 2 senators also demanded Bankman-Fried's testimony and will subpoena him if necessary.
Meanwhile, federal prosecutors are investigating whether Bankman-Fried manipulated the market for two cryptocurrencies, causing their collapse and the collapse of his own exchange.
— Materials from Reuters
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