Former FTX CEO Sam Bankman-Fried refuses to attend the U.S. House Committee on Financial Services scheduled hearing on December 13. Financial Services Committee Chair Maxine Waters invited SBF to testify before the committee as part of their investigation into the collapse of the crypto exchange FTX.
SBF Publicly Declines Scheduled U.S. House Hearing
Sam Bankman-Fried in a tweet on December 5 refuses to attend the scheduled U.S. House Committee on Financial Services hearing entitled, “Investigating the Collapse of FTX, Part I.” on December 13. He claims to testify before the committee after he’s finished learning and reviewing what went wrong at FTX.
Responding to Maxine Waters and U.S. House Committee on Financial Services, he said:
“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.”
Chairwoman Maxine Waters and Ranking Member Patrick Henry urged Sam Bankman-Fried to testify if he really wants to help the company’s customers, investors, and others. However, SBF publicly denying a scheduled U.S. House hearing has raised questions over his influence in U.S. politics.
Some even questioned why Maxine Waters leads the investigation into FTX collapse despite being well-known about SBF donations to her and other political leaders.
Crypto Twitter Reacts to Sam Bankman-Fried’s Behavior
Jake Chervinsky, Head of Policy at Blockchain Association, pointed out that SBF refuses to testify before Congress because “lying under oath is less appealing.”
Some question the U.S. Congress’ treatment of SBF despite lying to customers and agreeing with his mistakes that led to the collapse of FTX.
Elon Musk also agrees that SBF should not get priority treatment or media attention until his court hearing. He also claimed that SBF has contributed more than $1 billion to support Democrats in elections. However, it is still unclear where the remaining funds went.