BITCOIN

Congresswoman Maxine Waters, chair of the House Committee on Financial Services, has politely asked former FTX CEO Sam Bankman-Fried (SBF) to attend a congressional hearing on the collapse of his cryptocurrency exchange. Bankman-Fried says he will testify when he has finished “learning and reviewing what happened.” Bankman-Fried Responds to Rep. Waters’ Invitation The U.S. House Committee on Financial Services will hold a congressional hearing on the collapse of crypto exchange FTX on Dec. 13. Congresswoman Maxine Waters (D-CA), the committee’s chair, has been trying to get former FTX CEO Sam Bankman-Fried (SBF) to attend the hearing. However, instead of issuing a subpoena for him to testify, Waters politely asked him on Twitter Friday. “We appreciate that you’ve been candid in your discussions about what happened at FTX. Your willingness to talk to the public will help the company’s customers, investors, and others. To that end, we would welcome your participation in our hearing o

The chief executive of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, has slammed former FTX CEO Sam Bankman-Fried (SBF) for claiming that FTX is missing $8 billion due to an “accounting error.” He stressed: “It’s stolen customer money used in his hedge fund, plain and simple.” Brian Armstrong on SBF’s ‘Accounting Error’ Claim The CEO of the Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN), Brian Armstrong, has slammed FTX co-founder Sam Bankman-Fried (SBF) for blaming his collapsed exchange’s $8 billion hole on an “accounting error.” Bankman-Fried was asked in an interview with Bloomberg, published Friday, how he “misplaced $8 billion.” The former FTX boss replied: “Misaccounted.” He further explained that FTX customers sometimes wired money to his trading firm, Alameda Research, instead of sending it directly to FTX. The crypto exchange’s internal accounting system then double-counted the money, crediting it to both the exchange and the customer

Ethereum was in the red on Tuesday, as bears reentered the market following a failed breakout of a key resistance level. Prices failed to sustain yesterday’s move above $1,300, with momentum slipping in today’s session. Bitcoin was also lower, however is trading above $17,000 as of writing. Bitcoin Bitcoin ( BTC ) was consolidating in today’s session, as prices retreated from Monday’s three-week high. Following a peak of $17,371.00 to start the week, BTC /USD fell to an intraday low of $16,922.43 earlier in the day. This decline comes as traders have seemingly moved to secure gains, following yesterday’s surge in price. Looking at the chart, the drop took place as the 14-day relative strength index (RSI) was also unable to climb past a ceiling of its own. As of writing, the index is tracking at the 48.14 level, which is marginally below a ceiling of 50.00. Should a breakout occur, it is likely that BTC will move back towards the $17,400 point in upcoming days. Ethereum Ether

Following FTX’s collapse, many industry executives, influencers, luminaries, and politicians have shared their opinions about the carnage the event has caused to crypto markets and a great deal of innocent bystanders. On Dec. 2, the CEO and founder of Morgan Creek Capital, Mark Yusko, explained in an interview that it’s quite possible that the FTX co-founder Sam Bankman-Fried (SBF) was merely a “pawn” or “useful idiot” leveraged to “punish the industry.” Morgan Creek’s Mark Yusko: ‘This Debacle Is a Fraud Perpetrated by, I Believe, Someone Above the Useful Idiots’ Since the Terra LUNA fallout and the great number of business failures that followed the event, there’s been a myriad of theories surrounding these subjects. The most recent FTX collapse seems to eclipse all the blunders that took place after the Terra crash, and there are still many unanswered questions surrounding the event. A variety of individuals have shared their two cents about the FTX fiasco, including the host of