FTX Collapse Hearing: Key Moments From John J. Ray’s Testimony | WSJ

John J. Ray III, the new chief executive of FTX, testified in front of a House committee Tuesday on the collapse of the crypto exchange. His testimony came less than a day after the company founder, Sam Bankman-Fried, was arrested in the Bahamas.

He said FTX incurred losses ‘in excess of $7 billion’ during the hearing.