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FTX filed for U.S. bankruptcy protection last month and its founder Sam Bankman-Fried resigned as chief executive. Both Ray and Bankman-Fried will testify before the committee on Tuesday at 10 a.m. ET (1500 GMT).
Ray in his prepared remarks said that the FTX collapse appeared to stem from the concentration of control “in the hands of a very small group of grossly inexperienced and unsophisticated individuals.”
