FTX founder says he'll testify when he has ‘completed studying and reviewing’ collapse of cryptocurrency trade.
FTX founder Sam Bankman-Fried has introduced he'll testify earlier than the USA Congress after taking time to evaluate the implosion of his cryptocurrency trade.
Bankman-Fried stated on Sunday he would seem earlier than the US Home Committee on Monetary Companies after he “completed studying and reviewing” the occasions that led to FTX submitting for chapter final month.
“As soon as I've completed studying and reviewing what occurred, I'd really feel prefer it was my responsibility to look earlier than the committee and clarify,” the previous FTX CEO wrote on Twitter.
“I’m unsure that can occur by the thirteenth. However when it does, I'll testify.”
Bankman-Fried wrote the tweet in reply to Maxine Waters, the Democratic congresswoman who chairs the committee, after she invited him to look at a listening to scheduled to look at FTX’s collapse.
The US Home Monetary Companies Committee expects to listen to from firms and people concerned within the collapse, which despatched shockwaves by way of the cryptocurrency sector, on December 13.
Bankman-Fried, who as soon as ranked among the many world’s richest males, final week denied he had ever supposed to defraud anybody whereas acknowledging he had made a “lot of errors” in his dealing with of the crypto firm.
Talking at a convention organised by the New York Occasions and CNBC on Wednesday, Bankman-Fried stated he had no information of being the topic of a legal investigation and denied “knowingly” commingling traders’ funds with affiliated buying and selling agency Alameda.
He additionally stated he had rejected recommendation from his lawyer to remain silent as he felt he had “an obligation to elucidate what occurred”.
FTX, which was valued at $32bn at its peak, filed for chapter safety final month after the collapse of an acquisition deal involving rival trade Binance prompted billions in withdrawals from clients.
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