Disgraced FTX founder Sam Bankman-Fried has officially been added as a witness for this week’s Congressional hearing on the crypto exchange’s disintegration.
A new government has announced that memoThe House of Representatives Committee of Financial Services is calling for the testimony of the former chief executive of a bankrupt crypto company. He will be appearing before the committee at 10 a.m. EST on December 13th.
John J. Ray III was also called to testify as a witness. This is the man who assumed CEO of FTX in September after Bankman Fried resigned.
Ray will testify in front of Bankman-Fried. He is accused of mishandling customer money by lending them to other companies, failing properly to manage risk and manipulating the market.
Maxine Waters, Democratic Congresswoman and head of the Committee on Financial Services was elected earlier in the week. urged Bankman-Fried is invited to the hearing.
“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.
The collapse of FTX has impacted over one million people, as you are well aware. Your testimony will not only be valuable to members of Congress but also crucial to the American people.
It is imperative that you attend our hearing on the 13th, and we are willing to schedule continued hearings if there is more information to be shared later.”
Bankman-Fried claims he will however limited He is limited in the information he can offer during his testimony because he does not have access to the data.
“I still do not have access to much of my data – professional or personal. So there is a limit to what I will be able to say, and I won’t be as helpful as I’d like. But as the Committee still thinks it would be useful, I am willing to testify on the 13th.”
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Featured Image: Shutterstock/terng99/Nikelser Kate