FTX Co-Founder Sam Bankman-Fried Agrees to Testify Before US Congress

The co-founder of collapsed crypto speech FTX, Sam Bankman-Fried (SBF), has agreed to attest astatine 1 of the 2 legislature hearings acceptable for adjacent week. “I had thought of myself arsenic a exemplary CEO, who wouldn’t go lazy oregon disconnected,” Bankman-Fried claimed.

Sam Bankman-Fried to Testify Before Congress

Former FTX CEO Sam Bankman-Fried (SBF) has agreed to attest earlier the House Committee connected Financial Services aft the committee’s chair, Congresswoman Maxine Waters, politely tweeted inviting him to attest respective times.

“I inactive bash not person entree to overmuch of my information — nonrecreational oregon personal. So determination is simply a bounds to what I volition beryllium capable to say, and I won’t beryllium arsenic adjuvant arsenic I’d like. But arsenic the committee inactive thinks it would beryllium useful, I americium consenting to attest connected the 13th,” Bankman-Fried tweeted to Rep. Waters Friday.

“I volition effort to beryllium adjuvant during the hearing, and to shed what airy I tin connected FTX US’s solvency and American customers, pathways that could instrumentality worth to users internationally, what I deliberation led to the crash, [and] my ain failings,” helium elaborate successful a follow-up tweet, elaborating:

I had thought of myself arsenic a exemplary CEO, who wouldn’t go lazy oregon disconnected, which made it that overmuch much destructive erstwhile I did. I’m sorry. Hopefully radical tin larn from the quality betwixt who I was and who I could person been.

Another legislature proceeding is acceptable for Wednesday, Dec. 14. U.S. Senator Sherrod Brown (D-Ohio), seat of the Committee connected Banking, Housing, and Urban Affairs, sent a letter to Bankman-Fried past week requesting him to testify. At the clip of writing, the erstwhile FTX CEO has not agreed to attest earlier the Senate committee.

FTX filed for bankruptcy connected Nov. 11 and Bankman-Fried stepped down arsenic the CEO. The institution is present being investigated for assorted charges, including mishandling lawsuit funds. FTX’s caller CEO, John Ray, told the bankruptcy court: “Never successful my vocation person I seen specified a implicit nonaccomplishment of firm controls and specified a implicit lack of trustworthy fiscal accusation arsenic occurred here.”

What bash you deliberation astir SBF agreeing to attest earlier the House Committee connected Financial Services? Let america cognize successful the comments conception below.

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