Bankman-Fried Confirmed As A Witness At Congressional Hearing

Former FTX CEO Sam Bankman-Fried is scheduled to testify in a congressional hearing on the company’s demise, according to the US House of Representatives Committee on Financial Services.

On December 9, Bankman-Fried, or SBF, stated his willingness to testify in a U.S. House committee investigating FTX’s demise. The House Financial Services Committee and Senate Banking Committee leadership had indicated that they could subpoena the former FTX CEO, leading Bankman-Fried to tweet that he was “willing to testify” on December 13.

The committee stated Bankman-Fried panel was added to the list of witnesses for a hearing on Tuesday, December 13. The committee will call current FTX CEO John J. Ray III before Bankman-Fried testifies.

On the witness list for the Senate committee hearing, ‘Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers,’ set for December 14, were Hollywood star Ben McKenzie and legal professor Hilary Allen. McKenzie, an actor well known for his appearances on The O.C. and Gotham, has been a vocal opponent of crypto, particularly celebrities backing ventures.

In a December 1 hearing of the Senate Agriculture Committee, Commodity Futures Trading Commission chair, Rostin Behnam was the sole witness. The CFTC chair pointed to gaps in the agency’s regulatory authority.

A recent event related to FTX was that The Block CEO resigned, and this was related to a loan from Alameda, FTX’s sister company.

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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