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Sam Bankman-Fried says he'll take the hot seat and testify before lawmakers probing FTX

Sindhu Sundar   

Sam Bankman-Fried says he'll take the hot seat and testify before lawmakers probing FTX
Cryptocurrency1 min read
  • Sam Bankman-Fried tweeted that he would testify to a House committee this month.
  • The House financial services committee is inquiring into his failed crypto lending company FTX.

Sam Bankman-Fried doesn't appear to have plans to stop publicly discussing FTX any time soon, but he'll be sitting before lawmakers instead of journalists next week if he keeps his word.

The onetime billionaire and former CEO of the crypto lending giant Tweeted on Friday morning that he would testify before the House Financial Services committee at a hearing scheduled for Dec. 13 on his company's failure.

He indicated in his thread that he might not have all the answers to some of the questions lawmakers are most likely to be keen on, saying, "I still do not have access to much of my data — professional or personal."

In his recent press appearances with interviewers including The New York Times' Andrew Ross Sorkin and ABC's George Stephanopoulos, Bankman-Fried fielded questions about the degree to which the finances of FTX merged with his separate hedge fund Alameda Research.

In her own Twitter thread earlier this month, Democratic Rep. Maxine Waters of California, who chairs the House Financial Services committee, said that such interviews indicated that Bankman-Fried has enough to share that "is sufficient for testimony."

Separate entities run by the same people or group must generally still maintain separate financial identities, taking care to avoid murky boundaries.

Bankman-Fried tweeted that he would address FTX's customers and how it could "return value" to its international base, and suggested more mea culpas could be forthcoming.

According to his tweets, the list of topics he said he was open to discussing included "What I think led to the crash," and "My own failings."


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