The House Financial Services Committee will hold a hearing into FTX next month, the committee announced Wednesday.

Rep. Maxine Waters (D-Calif.) and Rep. Patrick McHenry (R-N.C.), respectively the chair and ranking member of the committee, said in a joint statement that the lawmakers would want to hear about the collapse of FTX and its "broader consequences" for the cryptocurrency ecosystem. The committee plans to hear testimony from now-former FTX CEO Sam Bankman-Fried and representatives from FTX, Alameda Research and Binance, which briefly suggested it would acquire FTX.