Former FTX CEO Sam Bankman-Fried has indicated he is ready to testify at a US Senate hearing on the collapse of the cryptocurrency exchange FTX. Bankman-Fried controversially missed a limit to reply to a request from the Senate Banking Committee to appear and testify. During a hearing focused on the FTX bankruptcy earlier this week. At the same time, the possibility of a congressional subpoena was on the table, the embattled former CEO offered in a series of tweets published in December.
Bankman-Fried responded to a series of tweets from Congresswoman Maxine Waters, Chair of the Financial Services Committee, who claimed that her recent interviews with various news outlets provided evidence that she had “enough information to testify.” Emphasizing that FTX had affected more than a million people, Waters asked Bankman-Fried to testify because his knowledge would be “significant” to members of Congress and “critical” to the American people.
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
Bankman-Fried’s delayed reply to Twitter came four days after Waters’ request. The former head of FTX and Alameda Research said his ability to provide answers was limited, citing a lack of access to professional and personal data.
He added that he would seek to provide insight and insight into the creditworthiness of FTX US and US customers and potential ways to “give value back to users internationally“, leading to the collapse of the exchange and its “own failures” led. The broader cryptocurrency community has criticized bank man-Fried and mainstream media for a perceived bias that portrays the former CEO as a victim of the debacle. Investors with no money and no answers:
“It was even more damaging when I did it,” said the CEO, “because I had thought of myself as a model CEO who wouldn’t be lazy or unmotivated.”
Bankman-Fried said she hoped people could learn from the difference in who I was and who could have been” in an apparent attempt to garner more sympathy as pressure from the US government begins to mount.