LIVE: The new CEO of FTX, John Ray testifies before the House Financial Services Committee less than 24 hours after the arrest of the company’s former head, Sam Bankman-Fried.

The new CEO of FTX, John Ray, will testify before the House Financial Services Committee on Tuesday, less than 24 hours after the arrest of the company’s former head, Sam Bankman-Fried.

Ray became CEO after the cryptocurrency company filed for bankruptcy.

Bankman-Fried was supposed to testify before the committee but, due to his arrest, will not make an appearance.

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