Sam Bankman-Fried could not testify earlier than US Congress on Dec. 13

FTX founder Sam Bankman-Fried could not testify earlier than the U.S. Home Committee on Monetary Companies on Dec. 13 as a result of he’s nonetheless “studying and reviewing what occurred” on the bankrupt trade.

Rep. Waters, and the Home Committee on Monetary Companies:

As soon as I’ve completed studying and reviewing what occurred, I might really feel prefer it was my obligation to seem earlier than the committee and clarify.

I am undecided that may occur by the thirteenth. However when it does, I’ll testify. https://t.co/c0P8yKlyQt

— SBF (@SBF_FTX) December 4, 2022

In a Dec. 4 tweet, the embattled founder stated he felt it was his obligation to seem earlier than the Home committee to elucidate what had occurred. Nonetheless, he doesn’t suppose that may occur on the thirteenth.

In accordance with him, he would testify when he has sufficient readability on what led to the implosion of his trade.

Bankman-Fried was responding to a Dec. 2 invitation from the Chairwoman of the Home Monetary Companies Committee, Maxine Waters. Waters tweeted her appreciation for his candidness in discussing what occurred at FTX. She stated his “willingness to speak to the general public will assist the corporate’s prospects, buyers, and others.”

SBF has been granting media interviews

Whereas Bankman-Fried is reluctant to seem earlier than the U.S. Congress, the FTX founder has granted a number of interviews to media homes and journalists, which included the Monetary Occasions, Wall Avenue Journal, Good Morning America, and a number of Twitter areas.

In all of those interviews, SBF maintained that he knew nothing about what brought on the collapse of FTX, attributing it to errors detected late.

In the meantime, Coinbase CEO Brian Armstrong stated nobody ought to consider his claims. In accordance with Armstrong, it was unimaginable for even the wealthiest particular person to not discover after they have an additional $8 billion to spend.

He said:

“Even essentially the most gullible particular person shouldn’t consider Sam’s declare that this was an accounting error. It’s stolen buyer cash utilized in his hedge fund, plain and easy.”

Elon Musk agrees SBF’s subsequent media look needs to be on the court docket

Elon Musk tweeted on Dec. 3 that SBF’s subsequent media look needs to be a court docket date. Musk stated he needs to be given “an grownup timeout within the huge home & transfer on.”

Agreed. Let’s simply give him an grownup timeout within the huge home & transfer on.

— Elon Musk (@elonmusk) December 3, 2022

In the meantime, the Head of Coverage at Blockchain Affiliation, Jake Chervinsky, said SBF’s reluctance to testify earlier than the U.S. Congress means he’s okay with mendacity to journalists however not snug with mendacity to Congress beneath oath.