Former FTX CEO Sam Bankman-Fried will appear before Congress to testify on the collapse of the giant, $32-billion cryptocurrency exchange.
December 10, 2022, 12:31 PMSamuel Bankman-Fried, founder and CEO of FTX, testifies during a Senate Committee on Agriculture, Nutrition and Forestry hearing about"Examining Digital Assets: Risks, Regulation, and Innovation," on Capitol Hill in Washington, DC.will appear before Congress to testify on the collapse of the giant, $32-billion cryptocurrency exchange.
Samuel Bankman-Fried, founder and CEO of FTX, testifies during a Senate Committee on Agriculture, Nutrition and Forestry hearing about"Examining Digital Assets: Risks, Regulation, and Innovation," on Capitol Hill in Washington, DC.Bankman-Fried said he will try to "shed light" on issues surrounding FTX's U.S. solvency, what he thinks led to the crash and his "own failings.
Lawmakers from both sides of the aisle have said they want to hear from Bankman-Fried after the downfall of his two companies -- FTX and the hedge fund Alameda Research -- and the mismanagement of customer funds. It's unclear if Bankman-Fried will appear before the committee. Brown, in cooperation with Republican ranking member Sen. Pat Toomey, said they will issue a subpoena to compel him to appear on Dec. 14 if he didn't voluntarily participate.
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