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Key U.S. senator urges probe into FTX collapse

WASHINGTON (Reuters) – U.S. Senate Banking Committee Chair Sherrod Brown said on Thursday it is critical that U.S. financial agencies investigate what led to cryptocurrency exchange FTX’s collapse and he pledged to take steps to ensure the stability of American markets.

U.S. Senate Banking, Housing, and Urban Affairs Committee hearing in Washington

WASHINGTON (Reuters) – U.S. Senate Banking Committee Chair Sherrod Brown said on Thursday it is critical that U.S. financial agencies investigate what led to cryptocurrency exchange FTX’s collapse and he pledged to take steps to ensure the stability of American markets.

“It is crucial that our financial watchdogs look into what led to FTX’s collapse so we can fully understand the misconduct and abuses that took place,” the Democratic senator said.

“I’m committed to finding the best path forward to protect consumers and the stability of the U.S. markets and banking system.”

(Reporting by David Shepardson; Editing by Chris Reese)

By Reuters

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