US Senator to Sam Bankman-Fried, CEO of FTX: “Thanks for Being Sincere”

House of Representatives Financial Services Chair Maxine Waters thanked FTX founder Sam Bankman-Fried for being “candid” today while talking about the bankrupt stock market.

Waters also invited Bankman-Fried, who ran FTX until early November before its scandalous and widely publicized collapse, to testify before the committee.

US House of Representatives to Examine FTX Case on Dec. 13

The bipartisan hearing will take place on December 13 and will examine the decline of FTX and its “wide-ranging implications for the digital asset ecosystem.”

Since FTX’s bankruptcy, Bankman-Fried has been largely absent (apart from writing weird tweets).

But he appeared in public at The New York Times’ annual DealBook Summit on Wednesday, then gave an interview on Good Morning America on Thursday, and held a Twitter Spaces evening with more than 39,000 attendees.

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“We appreciate your candor in your discussions about what happened at FTX,” Waters said on Twitter on Friday.

“Your willingness to speak publicly will help the company’s customers, investors, and others. To this end, we welcome your participation in our session on the 13th.”

The collapse of FTX, US lawmakers cryptocurrency led their units to figure out how to organize their fast-developing and complex world.

Bitcoin exchange FTX and more than 100 related organizations allegedly went bankrupt, largely due to mismanagement at the top.

FTX, once one of the largest crypto exchanges specializing in derivatives trading, allegedly used client money to risk investing in Alameda Research, another platform founded by Bankman-Fried.

*Not investment advice.

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