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At a hearing before the House Financial Service Committee, FTX's new CEO John J. Ray III testified on the events leading up to the company's collapse.

The House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law held a hearing titled "The Bankruptcy Code and Financial Institution Insolvencies." The hearing focused on examining the current Bankruptcy code and whether it is equipped to address the insolvency of large and small financial institutions. The following witnesses testified: The Honorable Jeffery Lacker, President, Federal Reserve Bank of Richmond (written testimony); Mr. Donald S. Bernstein, Co-Chair of the Insolvency and Restructuring Group, Davis Polk Wardwell LLP (written testimony); and Professor Mark J