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The Senate banking committee acceptable a deadline for Sam Bankman-Fried to respond to the petition connected Dec. 8 astatine 5pm ET.
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Crypto’s nationalist force fig one, Sam Bankman-Fried has missed a important deadline to corroborate his quality astatine an upcoming Senate Committee hearing.
The erstwhile FTX CEO missed a Thursday 5pm ET connected Dec. 8, deadline for responding to a Senate Banking Committee petition that helium attest astatine the Committee gathering connected Dec. 14. This has acceptable up the anticipation of a legislature subpoena.
On Dec. 8, the Chairman of the Senate Committee connected Banking, Housing, and Urban Affairs, Sherrod Brown, and ranking subordinate of the Committee Senator Pat Toomey released a statement connected the request.
“FTX’s illness has caused existent fiscal harm to consumers, and effects person spilled implicit into different parts of the crypto industry. The American radical request answers astir Sam Bankman-Fried’s misconduct astatine FTX,” they stated earlier adding:
“The Committee has requested that helium attest astatine our upcoming proceeding connected FTX’s collapse, and volition see further enactment if helium does not comply.”According to the authoritative Committee website, the proceeding titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers” volition beryllium webcast connected Dec. 14.
So far, 2 witnesses person been confirmed to be the proceeding — including American University Washington College of Law Professor Hilary J. Allen, and, Actor and Author Ben McKenzie Schenkkan.
Professor Allen is an world whose probe focuses connected the interaction of caller fiscal technologies connected the stableness of the fiscal system. Ben McKenzie is an anti-crypto actor-turned-commentator who played a troubled teen connected a U.S. tv bid called “The O.C.”
Messari laminitis Ryan Selkis commented connected the futility of the witnesser selection:
The Senate Banking FTX proceeding is simply a implicit goat rodeo and mockery of the system.
I offered to spell adjacent though it would person been a distraction, but alternatively the Senate opted for the erstwhile kid prima of the OC and a “never crypto” academic.
Another discarded of payer $$$.
Meanwhile, Cointelegraph has reached retired to Ben McKenzie for comment.
Related: Texas enforcers privation Sam Bankman-Fried to be the proceeding successful February
Other than the Dec. 14 Senate Banking Committee hearing, Bankman-Fried has besides been requested to be a abstracted proceeding called “Investigating the Collapse of FTX” connected Dec. 13 with the U.S. House Financial Services Committee.
Bankman-Fried was archetypal requested to be the proceeding via a Twitter station from Congresswoman Maxine Waters, but seemingly declined the invitation connected Dec. 5 stating that helium wasn’t definite what would hap by the proceeding date, “but erstwhile it does, I volition testify.”
Waters responded connected Dec. 8 stating “a subpoena is decidedly connected the table” should Bankman-Fried neglect to voluntarily attest astatine the hearing.
The illness of SBF’s FTX empire has initiated a tsunami of backlash from U.S. lawmakers and regulators threatening to drown the fledgling crypto plus industry.
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