Sam Bankman-Fried, founder of failed crypto exchange FTX, is set to testify before the US House Financial Services Committee on December 13, at least according to his tweet on Friday.
He said that he will “try to be helpful” and is willing to “shed what light [he] can on” on his failings and what he thought led to the crash, amongst FTX US’ solvency and their customers. However, Bankman-Fried has also stated he has “a limit to what [he] will be able to say”, as he notes that he lacks access to his personal and professional data.
1) I still do not have access to much of my data — professional or personal. So there is a limit to what I will be able to say, and I won’t be as helpful as I’d like.
But as the committee still thinks it would be useful, I am willing to testify on the 13th. https://t.co/KR34BsNaG1
— SBF (@SBF_FTX) December 9, 2022
This is in response to several members of Congress who has said that his appearance for testimony was “imperative” according to Maxine Waters. FTX, its sister entity Alameda Research, and 130 other affiliated companies has declared bankruptcy last month on November 11th, which according to Waters, has “harmed over one million people”. Bankman-Fried has already stepped down from his position as FTX CEO at this point.
Federal prosecutors are currently probing into FTX’s collapse, with customer fund misappropriation in relation to Alameda Research loans and Bankman-Fried’s role in the collapse of cryptocurrencies Terra & Luna being the key things that they will investigate.
