U.S. House Committee says SBF has sufficient knowledge to testify News โธ US โธ FTX โธ Regulation
U.S. House Committee says SBF has sufficient knowledge to testify
Waters said SBF's several media interviews and his previous role as the bankrupt exchange CEO had shown the committee that he has enough information to testify before it.
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Updated: Sep. 4, 2023 at 6:26 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Chairwoman of the US ย House Financial Services Committee Maxine Waters tweeted on Dec. 5 that FTX founder Sam Bankman-Fried has sufficient knowledge to testify before Congress on Dec. 13.
.@SBF_FTX,
Based on your role as CEO and your media interviews over the past few weeks, itโs clear to us that the information you have thus far is sufficient for testimony.ย (1/3) https://t.co/YUVVjOkC40
— Maxine Waters (@RepMaxineWaters) December 5, 2022
Waters said SBF’s several media interviews and his previous role as the bankrupt exchange CEO had shown the committee that he has enough information to testify before it.
According to Waters, FTX’s collapse harmed over one million people, and SBF’s testimony “would not only be meaningful to Members of Congress but is also critical to the American people.” The lawmaker added:
“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.”
Earlier, SBF said he was not sure he would attend the congressional hearing on the 13th. According to him, he would not testify until he finished reviewing and learning what happened to his crypto empire.
His response generated a wave of criticism from the crypto community, who believed he was trying to avoid lying to Congress under oath.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.