BREAKING: FTX’s Sam Bankman-Fried to Appear Before Congress on Dec 13th

Sam Bankman-Fried, the former CEO of now-bankrupt cryptocurrency exchange FTX, is set to appear before the U.S. House Financial Services Committee. The hearing is scheduled for Dec. 13th, with the former billionaire set to share more light regarding his company’s collapse in October.

Sam Bankman-Fried, or SBF as popularly known, had earlier declined an invitation by U.S. House Financial Services Committee Chairwoman Maxine Waters to attend the congressional hearing. The former CEO declined the invitation because he was still “learning and reviewing what happened” in the buildup to the FTX collapse.

In a follow-up tweet, however, Chairwoman Maxine Waters argued that SBF has sufficient information for the testimony based on his role as CEO and recent appearances in several media interviews. His testimony “would also be meaningful to Members of Congress but is also critical to the American people.”

SBF Accepts Congress Invitation

The former FTX CEO has confirmed he is willing to attend the upcoming Congressional Hearing. He reviewed his intentions in a Friday update, expressing willingness to shed light on several topics around the FTX saga.

2) I will try to be helpful during the hearing, and to shed what light I can on:

–FTX US’s solvency and American customers

–Pathways that could return value to users internationally

–What I think led to the crash

–My own failings

— SBF (@SBF_FTX) December 9, 2022

Notably, the underfire entrepreneur mentions that he still does not have access to much of his professional or personal data and may not be as helpful as he’d like.

The upcoming congressional hearing will mark the FTX CEO’s first public appearance before U.S. regulators since the company’s stunning collapse. Observers are also keen to note whether SBF’s testimony will take place in-person or through video-conferencing. The former would evidently mark his first visit to U.S. soil since the ugly incident.