Dems and Reps join forces to pressure SBF to testify before Congress
The leadership with the United States House Financial Services Committee have separately called on former FTX CEO Sam Bankman-Fried to appear in an investigative hearing scheduled for Dec. 13.
In Dec. 2 posts on Twitter, House Financial Services Committee chair Maxine Waters, a Democrat, and ranking member Patrick McHenry, a Republican, requested SBF speak at a hearing aimed at investigating the events around the collapse of FTX. It’s unclear if the U.S. lawmakers intended the former FTX CEO to appear in person or remotely from the Bahamas.
“[Sam Bankman-Fried], we appreciate that you've been candid in your discussions about what happened at FTX,” said Waters. “Your willingness to talk to the public will help the company's customers, investors, and others.”
“As you said, [Sam Bankman-Fried], you have a duty to ‘try to do what’s right’ and to ‘help customers out here,’” said McHenry. “If this is a true statement, testify before the House Financial Services Committee on 12/13.”
.@SBF_FTX, we appreciate that you've been candid in your discussions about what happened at #FTX. Your willingness to talk to the public will help the company's customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th.
The House committee said in November it expected to hear from companies and individuals involved in the downfall of FTX, including Bankman-Fried, Alameda Research, and Binance. The major crypto exchange filed for Chapter 11 bankruptcy on Nov. 11, with subsequent filings revealing the firm could be accountable to more than 1 million creditors.
U.S. lawmakers in the Senate Agriculture Committee held a similar hearing on Dec. 1, questioning Commodity Futures Trading Commission chair Rostin
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