Old Sam Bankman-Fried, CEO of FTXfeels compelled to talk to lawmakers about the crypto exchange crash, but may not do it on the date they want it to.
Sam Bankman-Fried to Inform House of Representatives on FTX Collapse
The discredited crypto boss said he needed to learn more about what caused FTX to crash and file for bankruptcy protection before attending a congressional hearing on the subject.
The House Financial Services Committee had invited Bankman-Fried to testify at a hearing on December 13.
Bankman-Fried said on Twitter:
“Mr. Waters and the House Financial Services Committee: After learning and reviewing what happened, I think it’s my duty to stand before the committee and make a statement.
I’m not sure this will happen until the 13th. But when it happens, I will testify,” he said.
Rep. Waters, and the House Committee on Financial Services:
Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.
I’m not sure that will happen by the 13th. But when it does, I will testify. https://t.co/c0P8yKlyQt
— SBF (@SBF_FTX) December 4, 2022
Lawmakers have recently lauded Bankman-Fried’s “candid” statement on the FTX collapse. Committee Chairperson Maxine Waters, D-Calif, said she would welcome her participation in the hearing.
Thank you for being candid in your discussions about what happened at FTX in a tweet by Waters.
Your willingness to speak publicly will help the company’s customers, investors, and others. To that end, we welcome you to attend our hearing on the 13th.”
Representative Patrick McHenry (RN.C.), who is likely to chair the committee next year, also pressured Bankman-Fried to attend the hearing. The trial is scheduled as part of a study on the FTX disaster.
Sam Bankman-Fried in an interview with the Financial Times on Saturday cryptocurrency He said that when he set up his exchange, Alameda was able to borrow at high levels in FTX.
He told the New York Times on Wednesday that he had “made a big mistake” and claimed responsibility for the lack of supervision that led Alameda Research to take risky positions with FTX.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!