FTX’s CEO Sam Bankman-Fried is set to testify before Congress next week about the collapse of FTX, as regulators investigate the cryptocurrency exchange he led.
United States House committee on financial services said in a statement on Friday that the panel would hear from FTX’s newly appointed CEO John Ray, and from Bankman-Fried on 13 December.
The FTX founder and former chief executive, who stepped down when it filed for chapter 11 bankruptcy protection on 11 November, tweeted that he would give evidence to the House financial services committee on Tuesday.
Bankman-Fried, who has stayed in the Bahamas where his company was headquartered, did not clarify whether he would appear in person or via video link.
He has given a number of media interviews since the FTX collapse, as well as tweeting regularly. He has denied trying to commit fraud and has said his fortune, once estimated at $26 Billion, has dwindled to $100,000.
In its first bankruptcy filing last month, FTX said it expected to have more than 1 million individual creditors. On Friday, Bankman-Fried tweeted that he had thought of himself as a “model CEO” who would not become lazy or disconnected, who had then created a “destructive” situation when he did. “I’m sorry,” he tweeted. “Hopefully people can learn from the difference between who I was and who I could have been.”
He listed specific issues he would be able to discuss with the committee, including the solvency of FTX’s US business, its American customers, and possible solutions for returning assets to international clients. He also said he could talk about what he thinks led to the crash and “my own failings”.
