Sam Bankman-Fried To Testify Before US House Committee After 'Learning and Reviewing' FTX Crash

Sam Bankman-Fried, the founder of FTX FTT/USD, said in a tweet on Sunday that he intends on testifying before the U.S Committee once he finished "learning and reviewing"  the events that resulted in the crash of the now-defunct cryptocurrency exchange.

What Happened: The U.S. House Financial Services Committee has scheduled an inquiry in December to discern the causes of the collapse of FTX and they are expecting to have testimony from the companies and people involved, including Bankman-Fried.

Last week, Committee Chair Rep. Maxine Waters (D-Calif.) extended an invitation to Bankman-Fried to attend the committee's hearing on Dec. 13.

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"Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain," the founder and former FTX CEO wrote in a reply to Waters.

Bankman-Fried said he couldn't be sure if the event would take place before Dec. 13. In a number of interviews last week, he dismissed claims of fraud following the crash of his exchange, causing creditors to suffer losses of billions of dollars.

Meanwhile, Elon Musk on Sunday called for the arrest of Bankman-Fried, when Devin Simonson, an entrepreneur, tweeted that “SBF doesn’t need anymore mentioning except for his court date,” Musk chimed in and said he concurs with him.
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Photo: Courtesy of ByBit via Flickr