Sam Bankman-Fried misses deadline to respond to Senate Committee hearing

Toya Wentland

Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, has skipped the deadline set by the U.S. Senate Committee on Banking, Housing, and City Affairs to confirm his visual appeal at an future hearing.

See similar write-up: Mark Karpeles on SBF

Quick details

  • Bankman-Fried’s counsel unsuccessful to react by the imposed deadline (Thursday, Dec. 8, 5 p.m. Jap Time), the Senate Committee reported in a assertion, in accordance to Bloomberg. This failure to react introduces the likelihood of a congressional subpoena. 
  • “FTX’s collapse has brought about genuine economic harm to individuals, and effects have spilled in excess of into other sections of the crypto market. The American individuals want answers about Sam Bankman-Fried’s misconduct at FTX,” mentioned a joint assertion by Sherrod Brown, chairman of the Senate Committee on Banking, Housing, and City Affairs, and Committee Senator Pat Toomey.
  • “The Committee has asked for that he testify at our impending hearing [on Dec. 14] on FTX’s collapse, and will consider more motion if he does not comply,” the assertion additional.
  • Two witnesses have been confirmed to go to the hearing so much: American College Washington Faculty of Legislation professor Hilary J. Allen and actor Ben McKenzie Schenkkan.
  • Ryan Selkis, founder of crypto intelligence organization Messari, has criticized the Committee’s witness choice, calling the hearing a “complete goat rodeo and mockery of the program.” Selkis added: “I offered to go even nevertheless it would have been a distraction, but rather the Senate opted for the previous youngster star of The OC [serial drama] and a ‘never crypto’ academic.”
  • On Friday, Bankman-Fried tweeted that he is “willing to testify on the 13th,” in a separate hearing requested by House Economical Providers Chair Maxine Waters, regardless of alleging that he does not “have access to substantially of my info – expert or individual.”

See associated post: FTX failure a ‘wake-up call’ for security, states former Mt Gox CEO Mark Karpeles

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