Watch live: House panel holds hearing on FTX collapse
The House Financial Services Committee will hold a hearing Tuesday on the collapse of crypto company FTX.
The Securities and Exchange Commission (SEC) reports that in a multiyear scheme, FTX CEO Sam Bankman-Fried diverted customer funds from his cryptocurrency exchange to support his crypto trading firm, Alameda Research.
The SEC alleges that Bankman-Fried also used customer funds to make venture investments, real estate purchases and political donations, which cost a total of $1.8 billion.
Bankman-Fried was arrested on Monday night.
The event is scheduled to begin at 10 a.m. ET.
Watch the video above.
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