Sam Bankman-Fried claimed that he is willing to testify in Congress regarding the downfall and bankruptcy of his company, FTX, the famous cryptocurrency exchange platform based in the Bahamas. The former CEO will do so after he reviews the events which resulted in the company's collapse but will be on his given time after reviewing what happened.
Bankman-Fried is still not sure about his statement in front of the House, especially as representatives had invited him to the hearing, one that would take place this December 13.
Sam Bankman-Fried to Testify Before Congress, In His Time
Sam Bankman-Fried recently tweeted that he is on board to testify before Congress regarding the FTX bankruptcy issue and clarify his side of the events that led to the company's downfall in early November. However, the only issue now is that the former CEO is not exactly ready to talk in front of the House Representatives, as of the moment.
In his tweet, Bankman-Fried claimed that he is still "learning and reviewing" the events leading up to FTX's bankruptcy and all that happened.
The entrepreneur also said that it is his "duty to appear before the Committee" to explain what happened internally, mainly focusing on his recollection of the events.
Read Also: FTX Japan Is Preparing to Enable Customer Withdrawals
Rep. Waters, and the House Committee on Financial Services:
— SBF (@SBF_FTX) December 4, 2022
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. https://t.co/c0P8yKlyQt
SBF: Not Sure for the 13th, Needs to Review FTX Events
Representative Maxine Walters invited Sam Bankman-Fried to testify before the House regarding the FTX bankruptcy issue on December 13, but the former CEO may not yet be ready by this time. In Bankman-Fried's tweet, he said he is not sure about the given date, but he still clarified that he intends to appear and give his side of the issue for the world to know.
Sam Bankman-Fried and the FTX Bankruptcy
Back when the FTX bankruptcy controversy first erupted, there were reports regarding Sam Bankman-Fried's alleged transferring of funds to a Bahamas account under regulators and the government of their base of operations. The most prolific name faced this and other issues in FTX, its co-founder and former CEO, Sam Bankman-Fried.
It was a massive shock for the world, especially as people did not expect this to happen, as events before this were calm and did not show any signs of the company failing.
Amidst the company's collapse and initial problems, Sam Bankman-Fried resigned from his post as the chief executive of the company, and it led to more controversies and issues that followed its events. Still, some reports were centering on Bankman-Fried trying to flee justice and onto South America, one that would avoid the issues he is dealing with now.
With the prolific case of FTX in the works in Congress now, Sam Bankman-Fried is not avoiding his presence and testimonies before the lawmakers to shed more light on the company's demise. However, it seems like Bankman-Fried wants more time to review more of what happened in the past weeks, especially as the House is looking into what happened from within.
Related Article: DOJ Requests Independent FTX Bankruptcy Probe, Reportedly to Acquire Fraud Evidence
