Sam Bankman-Fried, the disgraced former CEO of FTX, on Sunday dodged House Financial Services Committee Chair Maxine Waters’ (D-CA) call to testify.
“@SBF_FTX, we appreciate that you’ve been candid in your discussions about what happened at #FTX. Your willingness to talk to the public will help the company’s customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th,” Waters wrote, inviting Bankman-Fried to testify before the committee’s planned December 13 hearing.
In response, two days later, Bankman-Fried claimed he is still “learning and reviewing” what led to FTX’s collapse and thus cannot testify before the committee.
The disgraced former tech CEO wrote, “Rep. Waters, and the House Committee on Financial Services: Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain. I’m not sure that will happen by the 13th. But when it does, I will testify.”
The collapse of digital currency exchange FTX, as well as its sister organization hedge fund Alameda Research, rocked the cryptocurrency industry. As lawmakers and public officials try to figure out what happened, the Department of Justice (DOJ) has requested an independent inquiry into FTX regarding fraud allegations.
Breitbart News reported that Bankman-Fried and his cofounders donated over $300,000 to nine lawmakers who are now investigating the company for wrongdoing.
DOJ Trustee Andrew R. Vara said in the agency’s filing: “An examiner could – and should – investigate the substantial and serious allegations of fraud, dishonesty, incompetence, misconduct and mismanagement by the Debtors.”