The former CEO of the failed cryptocurrency exchange FTX said in a tweet that he is willing to testify to Congress next week, but that he will be limited in what he can say and that he “won't be as helpful” as he'd like to be.
said in a tweet Friday that he is willing to testify to Congress next week, but that he will be limited in what he can say and that he “won't be as helpful” as he'd like to be.
The tweet came in response to several tweets earlier this month from House Financial Services Committee Chair Maxine Waters, who had requested that Sam Bankman-Fried attend next week's hearingsWaters, a California Democrat, said in a series of tweets to Bankman-Fried that based on multiple media interviews since FTX collapsed, it was “clear to us that the information you have thus far is sufficient for testimony.
In a TV interview just over a week ago, Bankman-Fried said he largely believed the U.S. affiliate of FTX was entirely solvent and could start processing withdrawals at once. As for the rest of FTX, which was significantly larger than the U.S. division, he said the fate of customers’ funds were largely out of his control.
Bankman-Fried, who was once one of the richest people in the world on paper, now says he is getting by on a single credit card and likely has less than $100,000 to his name after FTX’s failure. Waters has said that FTX's collapse had “harmed over one million people," and tweeted on Tuesday that if Bankman-Fried was not willing to testify that a subpoena was “definitely on the table.”
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