Sam Bankman-Fried ‘will testify’ before Congress — eventually

Quick Take

  • Sam Bankman-Fried is open to testifying before Congress about the collapse of FTX, but he might not do it next week.

  • Lawmakers invited the former CEO to speak at a Dec. 13 hearing on FTX.

Former FTX CEO Sam Bankman-Fried feels obligated to talk to lawmakers about the collapse of his crypto exchange, but he might not do it on their timeline.

The disgraced crypto boss said he needs to learn more about what caused FTX to implode and file for bankruptcy protection before he can appear at a congressional hearing on the topic. The House Financial Services Committee invited Bankman-Fried to testify at a Dec. 13 hearing.

“Rep. Waters, and the House Committee on Financial Services: Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain. I'm not sure that will happen by the 13th. But when it does, I will testify,” Bankman-Fried said Sunday on Twitter. 

Lawmakers have lauded Bankman-Fried’s “candid” explanation for the FTX crash in recent days. Committee Chair Maxine Waters, D-Calif., said she would welcome his participation in the hearing. A Waters spokesperson did not respond to a request for comment.


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“We appreciate that you've been candid in your discussions about what happened at #FTX. Your willingness to talk to the public will help the company's customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th,” Waters wrote in a tweet.

Rep. Patrick McHenry, R-N.C., who is likely to chair the committee next year, also pressed Bankman-Fried to appear at the hearing. The hearing is slated to be part of a series on the FTX catastrophe. McHenry’s office did not respond to a request for comment.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Stephanie is a senior reporter covering policy and regulation. She is focused on legislation, regulatory agencies, lobbying and money in politics. Stephanie is based in Washington, D.C.


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