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FTX’s SBF Fails to Respond to Request to Testify at Senate Hearing

Fri, 12/09/2022 - 19:01
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Alex Dovbnya
Pennsylvania Senator Pat Toomey says that he expects FTX’s Sam Bankman-Fried to testify next week
FTX’s SBF Fails to Respond to Request to Testify at Senate Hearing
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Former FTX CEO Sam Bankman-Fried has failed to reply to a request to testify before the Senate Committee on Banking, Housing, and Urban Affairs on Dec. 14, Bloomberg reports.  

In a recent tweet, the Pennsylvania senator stressed that he and Ohio Senator Sherrod Brown still expect him to testify.  

Earlier this week, Brown, the chair of the committee, penned a public letter, urging the disgraced cryptocurrency founder to take part in an upcoming hearing. 

If Bankman-Fried doesn’t appear before the committee, he will be slapped with a subpoena that will compel his testimony. 

In the meantime, the former FTX boss voluntarily agreed to testify before the House Financial Services Committee after previously declining to go to Congress.

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Since the epic collapse of the world’s second-biggest cryptocurrency exchange in early November, Bankman-Fried did several interviews with major media outlets to offer his version of the story. 

He will likely be questioned about whether or not FTX knowingly commingled funds with sister trading company Alameda Research, which is something that the controversial entrepreneur continues to deny.

Bankman-Fried hasn’t clarified whether or not he will appear in Congress in person. 

The former FTX CEO is now under several investigations in the U.S. following the collapse of his crypto empire.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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