Pat Toomey: “We are at a time where we are accumulating an unprecedented amount of debt.”

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.

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

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

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.