NewsletterFTX News: SBF Says Senate Hearing “Not Currently Scheduled” For Attending
In a news related to FTX, Sam Bankman-Fried, who once served as the chief executive officer of the FTX empire, has stated that he is “not currently scheduled” to appear at the hearing that will be held by the Senate Banking Committee on December 14.
SBF To Attend If Important
On a Twitter Space call this Monday, the founder of the now-defunct cryptocurrency exchange, said that if his attendance at the hearing is deemed to be crucial, only then he would be willing to speak with the chair about it. SBF has already missed a deadline set by the Senate Banking Committee for a response to a request for his testimony.
SBF was quoted saying:
I… I.. (five times) not currently scheduled to do that, but I’m open and willing to have a conversation if it’s believed to be important.
However, Bankman-Fried made it amply clear in the ongoing Twitter call, that he will be attending the other separate hearing, put up by the U.S. House Financial Services Committee on Dec. 13 — albeit not in person, but virtually.
Read More: SBF Jail: Is FTX Founder Trying To Escape Arrest With Virtual Testimony?
When asked by a user why he isn’t appearing in person at the congressional hearing in the United States, Bankman-Fried cited multiple reasons for not having enough information, avoiding media frenzy, saving time and for his overall security.
#SBF asked why he isn’t appearing in person at the congressional hearing tomorrow… claims he just doesn’t have the time – yet he’s on spaces playing video games🤔🤦🏼♀️
— Tammy Hammer (@tammhammer) December 12, 2022
FTX News Reaches Senate
The Banking Committee had earlier called out Sam Bankman-Fried, and announced that he “must” attend the hearing which is scheduled on December 13th.
Read More: Alameda’s Ex-CEO & SBF’s Close Aide Caroline Hires Former SEC Official
Sherrod Brown, who serves as the chairman of the committee, further officially stated that SBF would be served with a subpoena if he failed to respect his invitation.
The FTX Saga
Midway through the month of November, FTX, which was previously regarded as the crown jewel of the cryptocurrency sector, submitted a petition for bankruptcy protection after discovering an $8 billion hole in its balance sheet.
Read More: Here’s Where The FTX’s $8 Billion Go, SBF Discloses
The new FTX CEO, John J. Ray III, conceded that there are multiple issues within the company’s internal controls and severe negligence toward basic risk management, which SBF later confirmed.
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