Sam Bankman-Fried, the founder of FTX, has indicated that he is "ready to testify" on December 13.
As a result of his expanded media tours, the former CEO of the defunct FTX cryptocurrency exchange, Sam Bankman-Fried (also known as SBF), has stated that he is willing to testify in front of the United States House of Representatives.
In a tweet (1) dated December 9, Bankman-Fried disclosed that he could appear before the House Committee on Financial Services on December 13.
Nevertheless, SBF mentioned that he is prepared to testify despite the fact that he does not have access to a significant portion of his personal and professional data. He stated that his response would be inadequate if he were to testify on the matter.
"“I still do not have access to much of my data — professional or personal. 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,” he said.," he stated.
SBF made the statement in reaction to a tweet sent out by Maxine Waters, who is the chairwoman of the House Committee on Financial Services. According to Waters, after SBF's recent press trips, he was in a situation to witness before the panel and shed some light on the goings-on at FTX.
According to Waters, “Based on your role as CEO and your media interviews over the past few weeks, it’s clear to us that the information you have thus far is sufficient for testimony.”
It is important to note that SBF was initially called to appear before the committee on December 13. However, he declined the invitation, indicating that he was still examining what occurred in the aftermath of the collapse.
He explained (2), "Once I have completed learning and studying what occurred, I will feel like it is my obligation to testify before the committee and explain. Once I have completed learning and reviewing what occurred."
Increased Media Tours of SBF
It is important to note that Bankman-media Fried's tours were the impetus for the committee's most recent invitation in the past few days, during which they attempted to explain what took place with the exchange during a period that was labeled a liquidity constraint.
The founder of FTX has defended his actions even though SBF is being investigated for fraud, citing the fact that the situation has been beyond his authority. In his first audio interview, SBF indicated that as opposed to the liquidity problems as a trigger for the collapse, what he called a "huge correlation of things during free market moves" had an effect on FTX. SBF's statement was made in his first-ever audio interview.