- FTX founder Sam Bankman-Fried failed to respond to a testimony request.
- The deadline was set by the Senate Banking Committee to confirm his appearance at the Committee hearing regarding FTX misconduct.
- Congresswoman Maxine Waters stated that a subpoena might follow suit.
Bankrupt cryptocurrency exchange FTX which sent shockwaves across the industry has once again made the news headlines with founder Sam Bankman-Fried failing to confirm his appearance at an upcoming hearing with the deadline set by the Senate Banking Committee.
December 8, 5 PM was by when SBF was supposed to revert back on the testimony request by the Senate Banking Committee, to testify at the Committee meeting on December 14.
Congresswoman Maxine Waters who first tweeted about the hearing request to Bankman-Fried shared that “a subpoena is definitely on the table” as the FTX founder failed to voluntarily testify.
The chairman of the Senate Committee on Banking, Housing, and Urban Affairs, Sherrod Brown, and ranking member of the Committee Senator Pat Toomey published a statement related to the testimony request, on December 8.
The statement unveiled that the FTX downfall has financially harmed FTX consumers and the effects of that have further impacted other parts of the cryptocurrency industry. Moreover, the statement demands that the people of America deserve answers about Sam Bankman-Fried’s misconduct at FTX. It also included,
The Committee has requested that he testify at our upcoming hearing on FTX’s collapse, and will consider further action if he does not comply.
The hearing titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers” will be webcast online on December 14, according to the official Committee website.
Two witnesses including American University Washington College of Law Professor Hilary J. Allen, and, Actor and Author Ben McKenzie Schenkkan, have confirmed to attend the court hearing thus far.
However, Ryan Selkis, founder of the crypto research company, Messari tweeted on the witness selection, claiming that the “Senate Banking FTX hearing is a complete goat rodeo and mockery of the system.”
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