SBF ‘prepared’ to testify at Senate hearing on the FTX collapse

Former FTX CEO Sam Bankman-Fried has indicated that he’s prepared to testify at a United States Senate hearing into the collapse of cryptocurrency trade FTX.

Bankman-Fried controversially missed the deadline to reply to a Senate Banking Committee request to seem and testify throughout a hearing targeted on FTX’s chapter earlier this week. While the risk of a congressional subpoena was on the desk, the beleaguered former CEO has supplied himself up in a sequence of Tweets revealed Dec. 9.

Bankman-Fried was replying to a thread of tweets from congresswoman Maxine Waters, chairwoman of the Financial Services Committee, who contended that his latest interviews with numerous media homes offered proof that he had sufficient info ‘enough for testimony’.

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Highlighting the proven fact that FTX had affected multiple million folks, Waters implored Bankman-Fried to testify provided that his data could be ‘significant’ to members of congress and ‘essential’ to the American folks.

Bankman-Fried’s belated response on Twitter got here 4 days after Waters’ request. The former head of FTX and Alameda Research mentioned he could be restricted in his skill to present solutions, citing a scarcity of entry to skilled and private knowledge.

He added that he would look to present info and insights on FTX US’s solvency and American clients, potential avenues to ‘return worth to customers internationally,’ what led to the collapse of the trade and his ‘personal failings’.

Bankman-Fried and mainstream media shops have copped criticism from the wider cryptocurrency neighborhood for a perceived slant presenting the former CEO as a sufferer in the debacle.

Bankman-Fried tried to assuage customers on Twitter by highlighting shortcomings in his working of the now-defunct enterprise, which has left traders out of pocket and in need of solutions:

“I had considered myself as a mannequin CEO who would not turn into lazy or disconnected. Which made it that rather more damaging once I did.”

Bankman-Fried mentioned he hoped folks may be taught from the distinction between “who I used to be and who I may have been,” in what seems to be to be an effort to curry extra sympathy as strain from the U.S. authorities begins to mount