Sam Bankman-Fried Ready to Testify Before U.S House Committee

  • Bank-Fried’s Friday tweet confirmed he’s willing to testify before the United States House Committee on Tuesday next week.
  • Meanwhile, SBF is encountering several investigations associated with FTX’s fall.
  • FTX empire crashed following massive exchange withdrawals following revelations about Alameda, FTX’s sister firm.

News about the former FTX chief executive officer Sam Bankman-Fried continues to flood cryptocurrency updates. The latest is that the CEO is ready to testify during the December 13 U.S. House Committee.

Meanwhile, the Friday suggestions came days after SBF stated he wouldn’t until he completed a review of what happened. Furthermore, he has seen continued talks since his company filed for insolvency – why not participate in the hearing?

The House of Committee representative Maxine Waters had invited Sam Bankman-Fried to join the committee’s hearing. Meanwhile, SBF didn’t seem enthusiastic about this idea. Nevertheless, House Committee’s call and criticism from the cryptocurrency community had him responding.

Though SBF confirmed his participation, he says he may not be that useful. His recent tweet stated that he is yet to gain complete access to his personal and professional data. That limits his contribution at the committee’s hearing on FTX’s fall. Bankman-Fried added that he would testify on Tuesday next week as the committee trusts he’s of help.

Bankman-Fried on the Spot amid FTX’s Crisis

Known to many as SBF, Sam Bankman-Fried is the former FTX chief executive officer of FTX, a crypto exchange he started in 2019. However, the exchange’s debacle last month has attracted multiple investigations globally.

In the United States, the Justice Department and the SEC (Securities & Exchange Commission) are into FTX and the CEO’s misappropriation of client funds. Also, there’s an investigation into Bankman-Fried’s role in possible market manipulations in June, during a crypto crash that followed the fall of TerrasUSD (UST) and Terra (LUNA).

Meanwhile, SBF maintains he isn’t a scammer and has appeared in some fascinating interviews within the last few weeks. His comments gas irked the cryptocurrency community more. For instance, Binance’s Changpeng Zhao dubbed SBF among the greatest scammers in history.

Zhao also tweeted this week that the ex-FTX CEO is a master manipulator as far as the media and primary opinion leaders are concerned.

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