House Subcommittee Chair Calls for Documents as Part of FTX Collapse Probe
Rep. Raja Krishnamoorthi (D-Ill.) is chairman of the Subcommittee on Economic and Consumer Policy.
"FTX's customers, former employees and the public deserve answers," wrote U.S. Congressman Raja Krishnamoorthi in a Friday letter to former FTX CEO Samuel Bankman-Fried and current FTX CEO John J. Ray III.
Krishnamoorthi (D-Ill.) is chairman of the House Oversight and Reform Committee's Subcommittee on Economic and Consumer Policy.
His subcommittee “is seeking detailed information on the significant liquidity issues faced by FTX, the company’s abrupt decision to declare bankruptcy and the potential impact of these actions on customers who used your exchange,” Krishnamoorthi said.
He also pressed FTX to comply with an Aug. 30 document request from his subcommittee.
Krishnamoorthi's action follows the House Financial Services Committee setting a hearing on FTX's collapse for next month. On the Senate side of Capitol Hill, Elizabeth Warren (D-Mass.) and Richard Durbin (D-Ill.) sent their own letter to FTX seeking answers about the crypto exchange's finances.
Krishnamoorthi’s subcommittee set a Dec. 1 deadline for FTX to send that requested information. With Republicans set to take control of the House in January, time is tight for any Democratic-led probe of FTX.
Read More: Top House Committee to Hold Hearing Into FTX Collapse
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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