Sam Bankman-Fried to testify on House Committee hearing

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Sam Bankman-Fried to testify on House Committee hearing

The former CEO of the recently bankrupt crypto exchange FTX, Sam Bankman-Fried, has confirmed his attendance at the upcoming House Financial Services Committee hearing.

On Dec. 9, Sam Bankman-Fried tweeted:

1) I still do not have access to much of my data — professional or personal. So there is a limit to what I will be able to say, and I won't be as helpful as I'd like.

But as the committee still thinks it would be useful, I am willing to testify on the 13th. https://t.co/KR34BsNaG1

— SBF (@SBF_FTX) December 9, 2022

The tweet was a response to House Financial Services Committee chair Maxine Waters’s official invitation from Dec. 2. Maxine Waters stressed Sam Bankman-Fried’s attendance is vital. The hearing announcement was made on Nov. 29. However, SBF dodged the invitation that time, citing he needed to “finish learning and reviewing what happened [with FTX collapse].”

Maxine Waters insisted Sam Bankman-Fried must testify, and based on his social appearances and interviews, SBF possesses the needed knowledge. She added:

As you know, the collapse of FTX has harmed over one million people. Your testimony would not only be meaningful to Members of Congress, but is also critical to the American people. It is imperative that you attend our hearing on the 13th, and we are willing to schedule continued hearings if there is more information to be shared later.

Maxine Waters’s public announcement of a possible subpoena probably caused Sam Bankman-Fried’s sudden change of heart. House Committee chair reacted to the CNBC article citing, “Waters said she wants committee staff to try to persuade Bankman-Fried to testify voluntarily, those with knowledge of the meeting said.”

Related: Crypto Digest From TradeCrypto.com #186

Maxine Waters tweeted:

Lies are circulating @CNBC that I am not willing to subpoena @SBF_FTX. He has been requested to testify at the December 13th hearing. A subpoena is definitely on the table. Stay tuned.

House Financial Services Committee “Investigating the Collapse of FTX, Part 1” hearing will be livestreamed on Dec.13 at 10 a.m. ET.

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