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Sam Bankman-Fried says unlikely to testify in Dec 13 House Committee hearing

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Sam Bankman-Fried, the former chief executive of FTX, indicated on Sunday that he is unlikely to testify in the upcoming U.S. House committee’s hearing on the collapse of his crypto exchange, saying he is still “learning and reviewing what happened.”

In a tweet to the Financial Services Committee Chair Maxine Waters and the committee, Bankman-Fried, who has been alleged to misappropriate customer funds, suggested he will testify at a later time.

The U.S. House Financial Services Committee announced last month that it plans to hold a hearing on December 13 to investigate the collapse of the crypto exchange FTX, which before the implosion was one of the world’s largest. The committee said it expected to hear from the companies and individuals involved, including FTX founder Bankman-Fried, Alameda Research and Binance.

The U.S. authorities’ lethargic pace at its probe into FTX and its leaders has frustrated many entrepreneurs and crypto investors who believe that Bankman-Fried, who has been alleged to have misappropriated billions of dollars from customers, is getting away with one of the largest frauds with little to no scrutiny.

Sam Bankman-Fried says unlikely to testify in Dec 13 House Committee hearing by Manish Singh originally published on TechCrunch

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