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Disgraced FTX founder to testify at House hearing on crypto exchange crash

After missing a Senate deadline, FTX founder tweets, “I am willing to testify.”

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Enlarge (credit: Alex Wong / Staff | Getty Images News)

It has been a little more than a week since disgraced FTX co-founder Sam Bankman-Fried was interviewed at a New York Times conference, telling attendees, “I didn’t ever try to commit fraud on anyone.” Shortly after that interview, US Senate Committee on Banking, Housing, and Urban Affairs Chairman Sherrod Brown sent a letter to Bankman-Fried, requesting that he appear next week at a Senate committee hearing entitled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers.”

Brown wrote that “there are still significant unanswered questions about how client funds were misappropriated, how clients were blocked from withdrawing their own money, and how you orchestrated a cover up.” Bankman-Fried missed the deadline yesterday to respond to Brown, but this morning, he finally tweeted to confirm that he is willing to talk to Congress. Now on this upcoming Tuesday, Bankman-Fried appears set to testify to the House Financial Services Committee on the day before Brown’s Senate hearing is scheduled.

“I still do not have access to much of my data—professional or personal,” Bankman-Fried tweeted. “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.”

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