Senators Elizabeth Warren (D-Mass.) and Dick Durbin (D-Ill.) sent a letter on Wednesday to both the Bahamas-based exchange’s former CEO, Sam Bankman-Fried, and its current CEO, former Enron clean-up man John Jay Ray III, who replaced Bankman-Fried after FTX and its 130-odd subsidiaries declared bankruptcy on November 11, asking for more information about what precipitated the exchange’s collapse.

Their letter kicks off an investigation into the collapse of FTX and the behavior of Bankman-Fried and his close-knit circle of fellow executives, who have been accused of self-dealing and fraud – behavior the Senators say “appears to be an appalling case of greed and deception.”

Warren and Durbin’s letter establishes a timeline for FTX’s collapse, beginning with CoinDesk’s report on Nov. 2 that Bankman-Fried’s quant trading firm Alameda Research’s holdings were largely comprised of FTT, FTX’s native token – a revelation that sparked a liquidity crisis as investors lost confidence and began withdrawing funds from the exchange.