SBF may Testify about FTX Bankruptcy
2022.12.09 09:03
SBF may Testify about FTX Bankruptcy
Budrigannews.com – Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, has indicated that he is willing to testify at a Senate hearing on the collapse of FTX.
During a hearing this week on FTX’s bankruptcy, Bankman-Fried controversially missed the deadline to respond to a request from the Senate Banking Committee to appear and testify. The beleaguered former CEO has offered himself up in a series of Tweets that were published on December 9 while the possibility of a congressional subpoena was being considered.
1) I still do not have access to much of my data — professional or personal. So there is a limit to what I will be able to say, and I won’t be as helpful as I’d like.
But as the committee still thinks it would be useful, I am willing to testify on the 13th. https://t.co/KR34BsNaG1
— SBF (@SBF_FTX) December 9, 2022
Bankman-Seared was answering to a string of tweets from representative Maxine Waters, director of the Monetary Administrations Council, who fought that his new meetings with various media houses gave proof that he had sufficient data ‘adequate for declaration’.
Waters urged Bankman-Fried to testify because his knowledge would be “meaningful” to members of Congress and “critical” to the American people, pointing out that FTX had affected more than one million people.
.@SBF_FTX,
Based on your role as CEO and your media interviews over the past few weeks, it’s clear to us that the information you have thus far is sufficient for testimony. (1/3) https://t.co/YUVVjOkC40
— Maxine Waters (@RepMaxineWaters) December 5, 2022
Four days after Waters’ request, Bankman-Fried provided a tardy Twitter response. Due to a lack of access to professional and personal data, the former head of FTX and Alameda Research stated that his ability to respond would be limited.
He went on to say that he would try to learn more about FTX US’s solvency, American customers, potential routes to “return value to users internationally,” the events that led to the exchange’s demise, and his “own failings.”
The cryptocurrency community as a whole has criticized Bankman-Fried and mainstream media outlets for presenting the former CEO as a victim in the mess.
On Twitter, Bankman-Fried attempted to reassure followers by highlighting flaws in his management of the now-defunct company, which has left investors out of pocket and without answers:
“I had thought of myself as a model CEO who wouldn’t become lazy or disconnected. Which made it that much more destructive when I did.”
In what appears to be an effort to garner more sympathy as pressure from the U.S. government begins to mount, Bankman-Fried stated that he hoped people could learn from the difference between “who I was and who I could have been.”
