FTX’s Bankman-Fried says he’ll testify earlier than US Congress

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FTX founder says he’ll testify when he has ‘finished learning and reviewing’ collapse of cryptocurrency trade.

FTX founder Sam Bankman-Fried has introduced he’ll testify earlier than the United States Congress after taking time to assessment the implosion of his cryptocurrency trade.

Bankman-Fried stated on Sunday he would seem earlier than the US House Committee on Financial Services after he “finished learning and reviewing” the occasions that led to FTX submitting for chapter final month.

“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 previous FTX CEO wrote on Twitter.

“I’m not sure that will happen by the 13th.  But when it does, I will testify.”

Bankman-Fried wrote the tweet in reply to Maxine Waters, the Democratic congresswoman who chairs the committee, after she invited him to seem at a listening to scheduled to look at FTX’s collapse.

The US House Financial Services Committee expects to listen to from corporations and people concerned within the collapse, which despatched shockwaves by way of the cryptocurrency sector, on December 13.

Bankman-Fried, who as soon as ranked among the many world’s richest males, final week denied he had ever meant to defraud anybody whereas acknowledging he had made a “lot of mistakes” in his dealing with of the crypto firm.

Speaking at a convention organised by the New York Times and CNBC on Wednesday, Bankman-Fried stated he had no information of being the topic of a felony investigation and denied “knowingly” commingling buyers’ funds with affiliated buying and selling agency Alameda.

He additionally stated he had rejected recommendation from his lawyer to remain silent as he felt he had “a duty to explain what happened”.

FTX, which was valued at $32bn at its peak, filed for chapter safety final month after the collapse of an acquisition deal involving rival trade Binance prompted billions in withdrawals from clients.

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