The Co-founder of the FTX crypto exchange, Sam Bankman-Fried, who was behind the company’s closure, has decided to testify at one of the two congressional hearings scheduled for next week. “I used to think I was a perfect CEO, who never got lazy or detached,” Bankman-Fried said.
Sam Bankman-Fried Ready to Attend US Congress Session
Sam Bankman-Fried, the former CEO of FTX, agreed to appear before the House Financial Services Committee, following an invitation from the committee’s chair, Congresswoman Maxine Waters, who asked him to testify several times.
“I still don’t have access to much of my personal data or professional data. So, there are limits to what I can tell you, and I won’t be able to provide as much help as I would like. But, since the committee is still uncertain, I am willing and able to testify on the thirteenth.” Bankman-Fried Tweeted to Rep. Waters On Friday.
“I will strive to be of assistance during the hearing and will shed as much light as I can on the creditworthiness of FTX US and US clients, ways that could bring value back to users internationally, which I think led to the crash. [and] my own failures,” Bankman-Fried added in a subsequent tweet.
I used to consider myself a model CEO. I wouldn’t get lazy. I would never become disinterested. It ended up being so destructive. I apologize. Hopefully everyone can learn from the differences between me and my potential.
Another congressional hearing is scheduled for Wednesday, December 14. US Senator Sherrod Brown (D-OhioChairman of the Committee On Banking, Housing Urban Affairs, sent a letter to Bankman-Fried Last week, he was asked to testify. As of writing, the former CEO of FTX has yet to agree to testify in front the Senate committee.
FTX filed for bankruptcy November 11, Bankman-Fried As CEO, he resigned. The Company is currently under investigation for various allegations, including mishandling customer money. The new CEO of FTX. John RayHe told the bankruptcy court: “Never in my career have I seen such a complete breakdown of corporate controls and such a complete absence of reliable financial information as happened here.”
Do you think SBF will agree to testify in front of the Senate committee? House Committee On Financial Services? Let us know what you think in the comments section.
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