The Texas State Security Board scheduled a hearing and requested FTX founder Sam Bankman-Fried to testify about violations to the state Securities Act.
called on FTX founder Sam Bankman-Fried to testify during a hearing scheduled for Feb. 2, 2023, to discuss whether to order a cease-and-desist order, fines and refunds.and gained popularity on social media while donating to causes addressing issues such as pandemics and climate change. He also gave big donations to Democrats and liberal PACs, making him a major player in Washington.
His wealth was estimated to be $15.6 billion, but that all changed on Nov. 11, when FTX filed for bankruptcy.On Nov. 22, the Texas State Securities Board scheduled a hearing with Bankman-Fried to discuss violations of the Securities Act and repercussions. FTX US was purportedly regulated as a money services business and offered Texans the opportunity to deposit cryptocurrencies in accounts that generated a good return. It was also listed as a cryptocurrency exchange where Ethereum andThe FTX Arena name is still visible where the Miami Heat basketball team plays Saturday, Nov. 12, 2022, in Miami.
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