FTX founder said he is not planning to attend the testimony in person.
Sam Bankman-Fried (SBF), the former CEO of FTX cryptocurrency exchange, disclosed today that he has no plans to speak at the upcoming Senate Banking Committee hearing scheduled for December 13, 2022. SBF made this known today during a Twitter Space hosted by Unusual Whales.
The founder of FTX, who disclosed he was playing a video game during the Twitter Space, said it is difficult for him to travel lately because of the massive “paparazzi effect” he has attracted following the collapse of FTX.
He added that if the committee insists that he attends the hearing, he is willing and open to having a conversation with the Congress members.
“It is difficult fo me to travel right now because the paparazzi effect is so large.”
“I am not currently planning to speak at the upcoming Senate hearing this week but if I was asked to I am open and willing to have a conversation if they feel its important I attend.”
— Autism Capital 🧩 (@AutismCapital) December 12, 2022
Tracy Wang, Coindesk’s Deputy Managing Editor, also joined Twitter Space and confirmed that SBF would not be attending the Banking Committee hearing in person. According to Wang, SBF will attend the hearing virtually.
@0x_tracy gets on stage. She confirms that Sam will not be showing up to congress in person tomorrow. He will be virtual.
— Autism Capital 🧩 (@AutismCapital) December 12, 2022
Several crypto enthusiasts, including David Gokhshtein, who joined the Unusual Whales’ Twitter Space, also confirmed that SBF would not attend the Banking Committee hearing in person.
BREAKING: SAM BANKMAN-FRIED NOT COMING TO D.C. TOMORROW?! 😮
— David Gokhshtein (@davidgokhshtein) December 12, 2022
Congress to Subpoena SBF If He Fails to Attend the Testimony
Several twists have emerged since the Senate Banking Committee invited SBF to testify and answer for the failure of FTX and Alameda Research. Earlier this month, SBF stated on Twitter that he is not sure he will attend the December 13 hearing because he is still learning and reviewing what led to the collapse of the crypto trading platforms.
Rep. Waters, and the House Committee on Financial Services:
Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.
I’m not sure that will happen by the 13th. But when it does, I will testify. https://t.co/c0P8yKlyQt
— SBF (@SBF_FTX) December 4, 2022
Reacting to SBF’s comment, Maxine Waters, chair of the House Committee on Financial Services, said that based on SBF’s role as former CEO of FTX, it is clear that he has sufficient information for the testimony. She added that SBF must attend the testimony because of the damage FTX’s collapse caused U.S. investors.
“Based on your role as CEO and your media interviews over the past few weeks, it’s clear to us that the information you have thus far is sufficient for testimony,” Waters said.
On December 8, Waters further revealed that SBF could be subpoenaed if he fails to show up voluntarily at the December 13 hearing.
Lies are circulating @CNBC that I am not willing to subpoena @SBF_FTX. He has been requested to testify at the December 13th hearing. A subpoena is definitely on the table. Stay tuned.
— Maxine Waters (@RepMaxineWaters) December 8, 2022
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Source: https://thecryptobasic.com/2022/12/12/sbf-to-testify-remotely-at-the-senate-banking-committee-hearing-tomorrow-amid-fear-of-paparazzi-effect/?utm_source=rss&utm_medium=rss&utm_campaign=sbf-to-testify-remotely-at-the-senate-banking-committee-hearing-tomorrow-amid-fear-of-paparazzi-effect