US House committee chair pushes back against SBF’s excuse to potentially delay testimony

Maxine Waters, chair of the US Home Monetary Companies Committee, has known as out former FTX CEO Sam Bankman-Fried for asserting on social media he meant to testify after “studying and reviewing what occurred” on the trade.

In a Dec. 5 Twitter thread, Waters cited Bankman-Fried’s quite a few media interviews within the wake of FTX’s chapter as proof that his info was “ample for testimony” earlier than the committee. Waters will preside over a listening to investigating the collapse of FTX on Dec. 13, wherein committee management stated they anticipated Bankman-Fried and different people related to the occasions across the trade’s downfall to seem.

“The collapse of FTX has harmed over a million individuals,” stated Waters, in a press release directed to Bankman-Fried. “Your testimony wouldn’t solely be significant to Members of Congress, however can be essential to the American individuals. It’s crucial that you simply attend our listening to on the 13th, and we’re prepared to schedule continued hearings if there may be extra info to be shared later.”

.@SBF_FTX,

Primarily based in your function as CEO and your media interviews over the previous few weeks, it’s clear to us that the knowledge you’ve to this point is ample for testimony. (1/3) https://t.co/YUVVjOkC40

— Maxine Waters (@RepMaxineWaters) December 5, 2022

Bankman-Fried has reportedly not spoken on to U.S. lawmakers following FTX’s chapter submitting on Nov. 11, however has taken half in lots of media interviews and posted to Twitter on the occasions across the trade’s collapse. Many on social media have steered the previous FTX CEO was unlikely to testify given he could be beneath oath and his statements could possibly be used to ascertain a attainable intent to defraud buyers.

Committee rating member Patrick McHenry, who alongside Waters known as for Bankman-Fried to seem earlier than Congress on Dec. 2, had not pushed again towards the previous FTX CEO’s Twitter response on the time of publication. It’s unclear whether or not the U.S. lawmakers meant to have Bankman-Fried seem in individual or remotely from the Bahamas, the place he was based mostly on the time of publication.

Associated: Crypto group baffled by SBF dictating phrases over congressional listening to

The U.S. Senate Agriculture Committee held an identical listening to to discover the downfall of FTX on Dec. 1. Commodity Futures Buying and selling Fee Chair Rostin Behnam was the only real witness earlier than the committee, to which he reported on gaps in laws that doubtlessly might have been addressed to reduce the influence on FTX’s customers.