‘I Have Made Many Mistakes’: Report Details Testimony Sam Bankman-Fried Would Have Given To Congress

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James Lynch Reporter
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Disgraced former crypto billionaire Sam Bankman-Fried planned to admit to making mistakes in notes for his congressional testimony obtained by Forbes.

Bankman-Fried was scheduled to testify before the House Financial Services Committee on Tuesday about the collapse of his crypto exchange FTX. The testimony was postponed after he was arrested Monday in the Bahamas ahead of an indictment by U.S. federal prosecutors.

He planned to begin his testimony by saying “I f***ed up, I know that it doesn’t mean much to say that I’m sorry,” the Forbes transcript shows. He intended to follow up by explaining how his inability to access his own personal data would limit his ability to answer questions from Congress.

Towards the end of his planned testimony, Bankman-Fried addressed claims about his political connections and personal behavior. The transcript says that “primary goal has never been personal enrichment. [He was] motivated by a commitment to bring happiness and alleviate suffering for others.”

Bankman-Fried estimated he has 100K left in his bank account and is unsure if he will be able to pay legal fees, Forbes’ transcript says. (RELATED: Federal Prosecutors Indict Sam Bankman-Fried On Eight Counts Of Fraud)

Bankman-Fried labeled speculation about his ties to Ukraine as “not just false, but deeply offensive” and echoed these comments about speculation the Democratic party was involved in an operation with him and the Ukrainian government, the Forbes transcript shows.

He planned to close his testimony by saying “I have made many mistakes this year” in reference to the collapse of FTX, Forbes’ transcript shows. Bankman-Fried has been indicted on eight counts of fraud and conspiracy by federal prosecutors, in addition to civil charges by multiple regulatory agencies.