After days of dodging, disgraced FTX founder Sam Bankman-Fried agreed Friday to testify before the House Financial Services Committee about the collapse of his cryptocurrency exchange. Here’s what lawmakers should grill him about:
, 30, has given nearly a dozen media interviews since the implosion and bankruptcy of his company—repeatedly apologizing for the approximately $8 billion in lost user funds while insisting he had no idea how bad the situation had gotten.
Andrew Ross Sorkin and Sam Bankman-Fried on stage at the 2022 New York Times DealBook Summit on Nov. 30.Experts told The Daily Beast there is plenty Bankman-Fried can—and should—offer up under oath. Here are some questions they think he should face during the grilling.The answer shouldn’t require more than a simple “yes” or “no,” though in some interviews Bankman-Fried has appeared to deflect.
The stakes for SBF are enormously high, as he weighs trying to salvage his reputation against exposing himself to legal peril. John C. Coffee, a professor at Columbia Law School, emphasized that lying during his testimony “could produce a perjury indictment.”After FTX’s abrupt collapse, Bankman-Fried was pushed out as CEO, and a new executive, John Jay Ray III, took the helm. Ray immediately assailed the old leadership team in a Nov.
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