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lawmakers on Capitol Hill trying to get answers from Regulators in the aftermath of the crypto chaos Jennifer schomberger is tracking that for us hey Jen good afternoon in a colorful display Tuesday we heard from a lawmakers before the Senate Banking Committee and their opinions on ftxs bankruptcy they pointed fingers at top banking Regulators while also asking them what could be done to prevent an FTX situation can you tell me who in our federal financial services regulatory administrative state was watching FTX to make sure that no one there stole peoples money was anyone watching them FTX lent out customer assets for proprietary trading with its affiliate Alameda research misusing its custody assets which it did not own and breaking its promises to its customers so like Senator Toomey I agree this is a lot like MF Global in 2011. but I think some of this obligation is on you to provide some clarity about how that could work uh and and and as I say I what Im hearing from the indus