Sam Bankman-Fried, the former CEO and founder of collapsed crypto exchange FTX, has publicly suggested that he may not appear at an upcoming US House committee hearing to testify on the collapse of his crypto empire.
one in Tweet To Financial Services Committee Chair Maxine Waters and the committee, Bankman-Fried stated that he is still not finished with “learning and reviewing what happened”, thus he may not be willing to participate in the hearing. .
“Once I’ve 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,” he said.
The statement came in response to a tweet by current Speaker and Congresswoman Maxine Waters and the committee that asked her to appear at the hearing on December 13th and talk about the fallout of FTX.
As reported, the US House Financial Services Committee announced Last month it plans to hold a hearing to investigate the collapse of crypto exchange FTX. The committee said they look forward to hearing from the companies and individuals involved, including FTX founder Sam Bankman-Fried, Alameda Research, Binance and others.
At the time, Waters said that the collapse of FTX hurt more than one million users, many of whom were retail traders who invested their “hard-earned” savings into the platform, only to see it all evaporate within seconds. disappeared.
“Unfortunately, this incident is just one of many examples of cryptocurrency platforms that have collapsed in the past year alone,” he said. ,[I] know that we need legislative action to ensure that digital asset entities cannot operate in the shadows outside of strong federal oversight and clear rules of the road.”
Lawmakers’ lack of seriousness in investigating FTX and its leaders has drawn the ire of members of the crypto community, who believe Bankman-Fried, who allegedly swindled billions of dollars from customers, is one of the biggest frauds in history. Getting away with one of the. Little or no investigation.
In particular, there is speculation that the SBF could donate As much as $1 billion for the Democrats. According to available data, the SBF was the second largest donor to the Democratic Party in the 2021–2022 election cycle after billionaire George Soros, who donated $39,884,256 to the Democrats.
Will Manidis, co-founder and CEO of ScienceIO, cited the donation as a reason why the SBF is not under regulatory scrutiny. In a recent tweet, he said Bankman-Fried made “one of the highest ROI trades of all time” by donating $40 million to charity and not going to jail for stealing over $10 billion in user funds.
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