After previously indicating he wouldn’t attend, Sam Bankman Fried (FTX founder) has agreed to testify next week before US lawmakers.
Maxine Waters, a Democratic Congresswoman from Massachusetts, is informed by the disgraced ex-CEO of FTX about his willingness to testify in the U.S. House Financial Services Committee’s hearing on the crypto currency’s collapse.
However, he points out that the topics he can talk about will be limited due to losing access to his data.
“I still do not have access to my professional and personal data.” There are limits to what I can disclose, so I won’t always be as helpful as I would like. As long as the committee considers it useful, I am available to testify on the 13th.
Waters had previously invited Bankman Fried to the hearing. Bankman Fried declined. Waters responded, insisting that the former millionaire testify. He was eventually convinced to join.
Bankman Fried lists the issues that he believes he could talk about before the committee, which Waters chairs.
Bankman Fried apologizes for accepting to testify.
“I had a mentality that I would be a successful CEO. He wouldn’t let me get lazy or disengaged, and it made my life more difficult. I’m sorry. I hope that people can take away lessons from my mistakes and be better.
Bankman Fried has given numerous media interviews over the past weeks. He also participated in many Twitter Spaces Q&A sessions. One of the charges against him is that he misappropriated customers’ funds. The ex-CEO claims that he did not intend to combine any funds.
Another congressional committee is asking Bankman Fried to testify at a hearing.
Senator Sherrod BROWN, Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has requested that Bankman Fried testify in a hearing titled, “Crypto Crisis: Why the FTX Boom Burst and the Harm to Consumers.”
Brown was also a ranking member of the committee. Pat Toomey threatens Bankman-Fried if he refuses to agree.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
