FTX Is Requested To Provide Documentation Involved In Bankruptcy Investigation

The Chairman of the House Subcommittee has called for the document to be made available as part of the probe into the fall of FTX.

On November 18, Raja Krishnamoorthi, Chairman of the US House of Representatives Economic and Consumer Policy Subcommittee, wrote to former CEO Sam Bankman-Fried and current CEO John J. Ray III, request information about the collapse of FTX.

Relevant requested documentation on major liquidity problems faced by the company, the reason for the company’s sudden decision to declare bankruptcy, and related actions detailing the potential impact for exchange customers.

The deadline for submission of required documents and information is December 1.

According to previous news, the Financial Services Committee of the US House of Representatives has announced that it will hold a hearing on the bankruptcy of FTX next month. Senators Elizabeth Warren and Richard Durbin also sent letters to the FTX asking for answers about its financial position.

On November 11, more than 130 companies in the FTX group of companies were simultaneously declared bankrupt. In bankruptcy filings filed on November 14, they have more than 100,000 creditors and that number could exceed one million.

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