February 3, 2023

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Sam Bankman-Fried agrees to testify before House

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Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during a Senate Agriculture, Nutrition and Forestry Committee hearing in Washington, D.C., on Wednesday, Feb. 9, 2022.

Sarah Silbiger | Bloomberg | Getty Images

FTX founder Sam Bankman-Fried has agreed to testify before the House Financial Services Committee at a hearing about the crypto exchange’s collapse on Tuesday, he said in a series of tweets Friday morning.

There’s been a lot of back and forth in Washington over whether lawmakers would have to subpoena Bankman-Fried, who said he would voluntarily testify since the committee “still thinks it would be useful.” It was unclear whether he would show up on Capitol Hill in person or stay in the Bahamas where he’s been holed up for much of the time since his company filed for bankruptcy last month.

In his tweet thread, the disgraced former “darling” of crypto appeared to lay blame on Binance founder Changpeng “CZ” Zhao.

The ex-CEO of FTX has been on a media blitz the last month talking about the implosion of his crypto empire, but this will be the first time the public has the chance to hear from SBF under oath.

Bankman-Fried wrote that he still did not have access to much of his data, professional or personal, so there was a “limit” to what he would be ably to say.

“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,” continued the post.

This is breaking news. Please check back for updates.

2022-12-09 08:01:00

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