Lawmakers called for financial regulators to investigate the situation and suggested further legislation is needed.
The dramatic collapse of crypto exchange FTX has – perhaps naturally – sparked a number of calls for greater regulation or faster legislative action from leading U.S. lawmakers.
FTX CEO Sam Bankman-Fried revealed earlier this week that his exchange had "liquidity crunches." Later reporting suggested FTX had comingled customer funds with Alameda Research, another company founded by Bankman-Fried. FTX has a nearly $10 billion hole and froze withdrawals on its exchange. FTX US, a related entity, similarly warned its customers that it may also freeze trading in the coming days.
A number of lawmakers have published statements expressing concern about the situation.
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