Former crypto billionaire Sam Bankman-Fried is willing to testify before the House about the collapse of his crypto exchange FTX.
He tweeted, “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.”
1) 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. https://t.co/KR34BsNaG1
— SBF (@SBF_FTX) December 9, 2022
“But as the committee still thinks it would be useful, I am willing to testify on the 13th,” Bankman-Fried added. In another tweet, Bankman-Fried stated, “I will try to be helpful during the hearing, and to shed what light I can on,” referring to the collapse of FTX.
He specified that he has insights about FTX’s solvency and American customers, pathways to return value to international users, his perspective on the FTX crash and his failings as the company’s CEO.
His tweet was responding to a Dec. 5 tweet from Democratic Rep. Maxine Waters, Chairwoman of the House Financial Services Committee, wherein she called for him to testify at the committee’s Dec. 13th hearing about FTX. (RELATED: Weeks Later, No Evidence Media Companies Have Returned A Dime Of Disgraced Crypto CEO’s Funds)
Rep. Waters tweeted at Bankman-Fried saying, “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,” as part of a tweet thread.
.@SBF_FTX,
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. (1/3) https://t.co/YUVVjOkC40
— Maxine Waters (@RepMaxineWaters) December 5, 2022
Waters tweeted separately that “a subpoena is definitely on the table” after a CNBC report alleged she was not planning to subpoena Bankman-Fried to testify.
Bankman-Fried ignored a similar request to testify before the Senate Banking Committee, Axios reported. The committee has a hearing scheduled Dec. 14 to assess why FTX crashed and how it harms consumers.
Democratic Senator Sherrod Brown, Chair of the committee, sent a letter Wednesday requesting testimony, adding that he is prepared to subpoena Bankman-Fried to compel his testimony.
Sen. Brown and GOP Sen. Pat Toomey, ranking member of the committee said in a statement Thursday that “FTX’s collapse has caused real financial harm to consumers, and effects have spilled over into other parts of the crypto industry. The American people need answers about Sam Bankman-Fried’s misconduct at FTX.”