Pat Toomey: “So the Federal Government, between the CARES Act and this most recent bill, sent, what, 25 times the lost revenue…”

There was unauthorized lending of customer assets to an affiliated entity, and there were apparently fraudulent promises to investors and customers about FTX's operations.

We owe it to each customer to get to the bottom of the FTX implosion, and any violations of the law should be aggressively prosecuted.

I think that there are a number of ways that you can go about creating a regulatory regime to take account of that risk.

Congress can and should offer a sensible approach for the domestic regulation of these activities.