United States Senators Elizabeth Warren and Richard Durbin wrote to the former and current CEOs of FTX — Sam Bankman-Fried and John Jay Ray III, respectively — on Nov. 16 to ask for more information on the collapse of the cryptocurrency exchange. They made 13 requests for documents, lists and answers.
“The public is owed a complete and transparent accounting of the business practices and financial activities leading up to and following FTX’s collapse,” the lawmakers wrote. They provided a summary of the major press coverage of the unfolding events and reconstructed a timeline from the media sources. Noting “the apparent lack of due diligence by venture capital and other big investment funds eager to get rich off crypto” among the issues they identified, they wrote:
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