FTX Founder Sam Bankman-Fried Publicly Refuses to Testify in US House Committee – Here’s What Happened
Sam Bankman-Fried, former CEO and founder of collapsed crypto exchange FTX, has publicly suggested that he might not appear in the upcoming U.S. House committee’s hearing to testify on the collapse of his crypto empire.
In a tweet to the Financial Services Committee Chair Maxine Waters and the committee, Bankman-Fried said he is still not finished with “learning and reviewing what happened,” thus he might not be ready to participate in the hearing.
"Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain. I'm not sure that will happen by the 13th. But when it does, I will testify," he said.
The statement came in response to a tweet by Current Chair and Congresswoman Maxine Waters and the committee that asked him to appear in the hearing on December 13 and talk about the collapse of FTX.
As reported, the US House Financial Services Committee announced last month that it plans to hold a hearing to investigate the collapse of the crypto exchange FTX. The committee said they expected to hear from the companies and individuals involved, including FTX founder Sam Bankman-Fried, Alameda Research, Binance, and more.
At the time, Waters said that the collapse of FTX hurt over one million users, many of whom were retail traders who invested their "hard-earned" savings into the platform, only to watch it all disappear within a matter of seconds.
"Unfortunately, this event is just one out of many examples of cryptocurrency platforms that have collapsed just this past year," she added. "[I] know that we need legislative action to ensure that digital assets entities cannot operate in the shadows outside of robust federal oversight and clear rules of the road."
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