Dear Sandeep,
We hope you had a wonderful Thanksgiving.
Recently, CNN reported on Congressman Raja's inquiry into the effect of the FTX cryptocurrency exchange and its effect on American consumers and investors. The aim of the inquiry by the House Oversight and Reform Subcommittee on Economic and Consumer Policy, which Congressman Raja chairs, is to recover internal documents and communications from Sam Bankman-Fried and the FTX exchange to understand the sudden collapse of this exchange and what is being done to recover customer funds. Congressman Raja told CNN hosts: "FTX investors and the American people demand answers."
WBBM Radio in Chicago also reported on the Congressman's work to hold FTX/crypto executives accountable for the apparent fraud and missing funds from the crypto exchange platform. Congressman Raja told host Rob Hart that "We're trying to figure out what happened, how did we get to this place, and how do we prevent this from happening again."
The Daily Herald spoke to Congressman Raja about this issue as well, where he went into more details and told reporters, "Billions of dollars in investor money has vanished, and quite frankly, neither Mr. Bankman-Fried nor anyone at FTX can explain what happened to that money... What you see with FTX is a prime example of what can go wrong when a company is not really following any kind of standard rules or regulations."
The Washington Post, reporting on the pressure of federal oversight Elon Musk faces from Democratic lawmakers, cited Congressman Raja's comment that "Twitter's new verification system does nothing to address the serious misinformation problems which continue to run rampant on the platform." The scrutiny around misinformation on the social media platform is not new, but concern has markedly increased in recent weeks after Musk's takeover of the company.
We will continue to bring you news about Congressman Raja Krishnamoorthi's work in D.C. and Illinois.
Please visit rajaforcongress.com for more updates as well.
Team Raja
Paid for by Friends of Raja for Congress
Raja for Congress
PO Box 681202
Schaumburg, IL 60168
United States
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