Bankman-Fried says he’ll testify earlier than U.S. Home committee By Reuters


© Reuters. FILE PHOTO: FTX founder Sam Bankman-Fried poses for an image, in an unspecified location, on this undated handout image, obtained by Reuters on July 5, 2022. FTX/Handout by way of REUTERS

(Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify earlier than the Home Monetary Providers Committee after he completed “studying and reviewing” the occasions that led to the spectacular collapse of his cryptocurrency change.

The U.S. Home Monetary Providers Committee plans to carry a listening to in December to analyze the collapse of FTX and expects to listen to from the businesses and people concerned, together with founder and CEO Bankman-Fried.

Committee Chair Maxine Waters (NYSE:) final week invited Bankman-Fried to take part within the panel’s listening to on Dec. 13.

“As soon as I’ve completed studying and reviewing what occurred, I might really feel prefer it was my obligation to look earlier than the committee and clarify,” the founder and former FTX CEO wrote in a reply to Waters.

Bankman-Fried added that he was uncertain if that might occur earlier than Dec. 13.

He rejected recommendations of fraud in a variety of interviews final week after his firm’s collapse shocked buyers and left collectors going through losses totaling billions of {dollars}.

FTX filed for chapter in November after every week during which a potential merger with rival crypto change Binance failed, Bankman-Fried was accused funneling buyer deposits to FTX’s affiliated buying and selling agency Alameda Analysis, and the change skilled withdrawals of about $6 billion in simply 72 hours.

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