Sam Bankman-Fried says he will testify before congressional committee

Quick Take

  • The former FTX CEO said he’s willing to testify before the House Committee on Financial Services in Washington, D.C., next week. 

Former FTX CEO Sam Bankman-Fried (SBF) confirmed he is willing to testify in front of the House Committee on Financial Services in Washington D.C. next Wednesday.

"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," he Tweeted, adding: "But as the committee still thinks it would be useful, I am willing to testify on the 13th."

He added in a tweet thread that he would try to give details on FTX US's solvency and American customers, pathways that could return value to users internationally, what he thinks led to the crash and his own failings.

"I had thought of myself as a model CEO, who wouldn't become lazy or disconnected. Which made it that much more destructive when I did," he wrote. "I'm sorry. Hopefully people can learn from the difference between who I was and who I could have been."


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The Senate had demanded he testify, but had been left with a pregnant silence up until now. A letter sent by senators threatened Bankman-Fried with a congressional subpoena if he refused to cooperate. The deadline for his response was set for 5pm ET yesterday.

The embattled crypto mogul has given several media interviews since the collapse of his company, detailing his version of the story, but punted on an earlier invitation from the House Financial Services Committee, saying he wanted to wait until he had "finished learning and reviewing what happened" to the companies he ran and owns. 

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 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 Authors

Andrew Rummer is executive editor for The Block Pro, based in London. He was previously managing editor at Bloomberg News and led special projects at Finimize. He has a degree in engineering from the University of Oxford. Follow him on Twitter at @AJRummer.
Lucy is an editor focusing on NFTs, gaming and the metaverse. Prior to joining she worked as a freelancer, with bylines in Wired, Newsweek and The Wall Street Journal, among other publications. Follow her on Twitter: @LHM1.


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