The Chicago Journal

Sam Bankman-Fried ‘not ready’ for hearing

FTX collapse traced back to SBF associates who pleaded guilty
FTX collapse traced back to SBF associates who pleaded guilty

Sam Bankman-Fried recently responded on Twitter to US Representative Maxine Waters’ invitation to a hearing on Friday.

The disgraced FTX creator said he wasn’t sure if he would be ready to attend a scheduled hearing in Washington, DC, on December 13.

The news

Sam Bankman-Fried was called to testify before the US House of Representatives Financial Services Committee.

Maxine Waters, a ranking member, tweeted to SBF, saying, “We would welcome your participation in our hearing.”

“We appreciate that you’ve been candid in your discussions about what happened at #FTX,” she wrote.

“Your willingness to talk to the public will help the company’s customers, investors, and others.”

Read also: Sam Bankman-Fried, ‘Look, I screwed up’


On Sunday, Sam Bankman-Fried responded on Twitter, writing:

“Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.”

“I’m not sure that will happen by the 13th. But when it does, I will testify.”

Reception to the response

Meanwhile, Crypto Twitter paid close attention to the FTX creator’s nonchalant attitude toward the invitation.

Paul Grewal, Chief Legal Officer of Coinbase, did not appreciate SBF’s attitude.

“Our elected representatives exercise great restraint in communicating their expectations,” he wrote.

“And still this fraudster insults their authority. What a disgrace.”

However, others have criticized Maxine Waters’ tone.

Blockchain-based video streaming platform LBRY recently lost a battle with the United States Securities and Exchange Commission over alleged sales of unregistered securities under its LBC token.

Others took the opportunity to denounce Sam Bankman-Fried for fraud.

Read also: Sam Bankman-Fried Faces Downfall with FTX Collapse

After the collapse

Following FTX’s bankruptcy filing in November, Sam Bankman-Fried issued multiple apologies.

SBF has appeared in high-profile interviews, including with George Stephanopoulos of Good Morning America, CNBC, and Andrew Ross Sorkin of The New York Times.

During the interview with Sorkin, Bankman-Fried revealed that he spoke against his attorney’s advice.

“I didn’t knowingly commingle funds,” said SBF, referring to the relationship between FTX and his trading firm Alameda Research.

“It was, in effect, tied together substantially more than I would have ever wanted it to be.”


SBF publicly punts on the US House Hearing Invitation

Opinions expressed by The Chicago Journal contributors are their own.