09 Dec 2022
Next week, SBF is prepared to appear before U.S. House Committee on Financial Services
Bankman-Fried said he would appear before the US House Committee on Financial Services on December 13.
Sam Bankman-Fried, who formerly served as CEO of FTX, has indicated that he is “willing” to testify in front of the U.S. House Committee on Financial Services on December 13. He made a solemn vow to shed more light on the factors that led to the failure of his exchange and on his shortcomings as a leader.
Earlier this week, the United States House Committee on Financial Services asserted that the FTX crisis was responsible for enormous losses sustained by investors.
It requested that Mr. Bankman-Fried provide testimony on the subject on December 13. SBF announced on Twitter that he is prepared to fulfill the Committee's request after taking it to that platform.
However, he stated he does not have access to a significant portion of his data (either personal or professional), which is the reason there is a restriction on the information he can disclose.
SBF has promised to be “helpful” during the hearing and to bring more clarity to significant problems, such as FTX US' solvency and what American and international users should do to get their lost assets.
SBF will also explain the primary factors that led to the demise of FTX and the things he should have done differently to avoid it.
Subsequently, he laid the blame for his transformation from a “model CEO” to “lazy or disconnected” squarely on his own shoulders.
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