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Disgraced FTX founder Sam Bankman-Fried says he is willing to testify before Congress

On Friday, disgraced FTX founder and former CEO Sam Bankman-Fried said that he would be willing to testify in Congress before Maxine Waters and the House Financial Services Committee on December 13.

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Jarryd Jaeger Vancouver, BC
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On Friday, disgraced FTX founder and former CEO Sam Bankman-Fried announced that he would be willing to testify in Congress before Maxine Waters and the House Financial Services Committee on December 13.

In reference to the upcoming congressional hearing, "Investigating the Collapse of FTX, Part I," Bankman-Fried explained that he wanted more time to go over all the information.





"I still do not have access to much of my data -- professional or personal," Bankman-Fried tweeted. "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."



Bankman-Fried said he hoped to shed light on the factors that led to the crash, his own personal failings, and what FTX could do for US and international users going forward.

 

"I had thought of myself as a model CEO, who wouldn't become lazy or disconnected," Bankman-Fried continued, noting that this belief "made it that much more destructive" when everything colllapsed.

"I'm sorry," he added. "Hopefully people can learn from the difference between who I was and who I could have been."

Users had mixed feelings on Bankman-Fried's decision to testify, and called on the Committee to ensure that they don't waste the opportunity.



"Really hope Congress takes my advice and gets a real expert to question Sam," lawyer and crypto expert @MetaLawMan said, suggesting that, "If its just the typical uninformed Congress people asking questions written by their staffs--guess what, Sam wins again."

Waters had stated during a private meeting on Tuesday that she didn't plan on subpoenaing Bankman-Fried to testify at the upcoming hearing, telling Securities and Exchange Commission Chair Gary Gensler that she wanted her fellow committee members to convince Bankman-Fried to testify of his own volition.

On December 4, Bankman-Fried responded to Waters' original request by stating that he would testify eventually, but that he would likely not be ready by the 13th.

"Once I have finished learning and reviewing what happened," he said, "I would feel like it was my duty to appear before the committee and explain."

Nine members of Waters' committee had received donations from SBF to the tune of $300,000. Only one member has since returned the money.

"In Congress, which is also supposed to be overseeing the finance sector, Maxine Waters, who chairs the Financial Services Committee, was palling around with Sam Bankman Fried," FOX News' Tucker Carlson pointed out. "That's a pretty good deal. You're running a scam, and the regulators are on your side."

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