Next week, congressional hearings will be held on the collapse cryptocurrency exchange FTX. US lawmakers have asked for former FTX CEOs to testify before them. Sam Bankman-Fried (SBF) is requested to appear As The founder of FTX Alameda Research, “you must answer for the failure of both entities caused, at least in part, by the clear misuse of client funds and eliminated billions of dollars owed to more than a million creditors,” Senator Sherrod Brown Informed Bankman-Fried.
Next week, 2 congressional hearings are slated on FTX
The House Financial Services Committee The Senate Banking, Housing?, and Urban Affairs Committee Separately, a hearing will be held next week on the collapse cryptocurrency exchange FTX.
US Senator Sherrod Brown (D-OhioChairman of the Committee On Banking, Housing Urban AffairsYou can find more information at Wednesday A letter was sent to the former CEO of FTX Sam Bankman-Fried (SBF) asking him to attend the hearing for his commission titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers” These will take place on December 14. The letter says:
As FTX’s founder and CEO Trading Ltd. at the time it filed for bankruptcy, the founder, principal owner, and former CEO of Alameda ResearchYou must answer for the bankruptcy of both companies, which was at least partially caused by the clear misused of client funds.
“There are still significant unanswered questions about how client funds were misappropriated, how clients were prevented from withdrawing their own money, and how you orchestrated a cover-up,” The senator continued.
Brown It was stated. “Traditionally, witnesses who are invited to appear before the committee make themselves available voluntarily.” He Ask Bankman-Fried To respond to her staff by 5pm EST Thursday To discuss her participation in this hearing.
The Legislator
If You can choose to not appear. I am available, along Ranking Member Pat ToomeyTo issue a subpoena for your testimony.
FTX filed bankruptcy papers on November 11. Bankman-Fried As CEO, he resigned. The The company is currently under investigation for mishandling of client funds. FTX’s CEO is now indicted. John RayThe bankruptcy court was informed by. “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.”
Meanwhile, Rep. Maxine WatersChair of the House Financial Services CommitteeInvited Bankman-Fried To attend the hearing of her committee December 13. She Multiple times, I have tweeted at the FTX founder, but he did not issue a subpoena. to declare.
The The politeness with which she invites people in congress has been widely criticised Bankman-Fried. She Even tweeting that she was grateful for him being open in her conversations about what happened with FTX Waters Tweeted on Wednesday:
There There are many lies being circulated on @CNBC. I refuse to quote @SBF_FTX. He A witness was requested to testify at the December 13 hearing. It is certain that a subpoena will be issued. Stay tuned.
Bankman-Fried Told Waters Last week, she stated that she would testify in her absence “finished learning and reviewing what happened,” This is something she didn’t think would happen before December 13.
Do Do you think the US will be able to accomplish this? Do you want Sam Bankman-Fried To appear at congressional hearings next Thursday? Let Please let us know your thoughts in the comments section.
