U.S. House committee chair says Bankman-Fried must testify next week




  • In US
  • 2022-12-05 20:35:19Z
  • By Reuters
 

(Reuters) - The chair of the U.S. House of Representatives Financial Services Committee demanded on Monday that Sam Bankman-Fried, founder and former CEO of the now-bankrupt crypto exchange FTX, testify before Congress on Dec. 13.

"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," Representative Maxine Waters, the committee chair, wrote on Twitter.

On Sunday, Bankman-Fried tweeted that he would testify before the committee after he finished "learning and reviewing" the events that led to the spectacular collapse of his cryptocurrency exchange.

In the tweet Bankman-Fried said he was unsure if that would happen before Dec. 13.

But in her reply on Monday, Waters wrote on Twitter: "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."

Bankman-Fried rejected any suggestion of fraud in a series of interviews last week after his company's collapse stunned investors and left creditors facing losses totaling billions of dollars.

FTX filed for bankruptcy in November after a week in which a possible merger with rival crypto exchange Binance failed.

(Reporting by Akriti Sharma in Bengaluru; Editing by Leslie Adler and Howard Goller)

COMMENTS

More Related News

Joe Biden touts economic agenda after State of the Union; GOP launches probes: live updates
Joe Biden touts economic agenda after State of the Union; GOP launches probes: live updates

The country is at an inflection point, as Biden likes to say. So, too, is Biden's presidency, as he prepares to compete for a second term in office.

Ex-Twitter execs to testify in Congress on handling of Hunter Biden laptop reporting
Ex-Twitter execs to testify in Congress on handling of Hunter Biden laptop reporting

Company temporarily restricted New York Post article in 2020 about contents of the abandoned computer of Joe Biden's son

A look at some of the symbols worn by members of Congress at the SOTU
A look at some of the symbols worn by members of Congress at the SOTU

President Biden was the only speaker during the State of the Union address, but many lawmakers made silent statements while in the audience.

Congress unites behind Ukraine as Biden calls war
Congress unites behind Ukraine as Biden calls war 'test for the ages'
  • World
  • 2023-02-08 03:48:04Z

Lawmakers stood for a rare bipartisan ovation in support of Ukraine as President Biden asked Ukrainian Ambassador Oksana Markarova to stand up and called...

State of the Union 2023: Chinese balloon looms large over Biden
State of the Union 2023: Chinese balloon looms large over Biden's speech

The president will be under intense pressure to address the issue in his State of the Union speech.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US