{"id":1052,"date":"2022-12-10T23:34:43","date_gmt":"2022-12-10T23:34:43","guid":{"rendered":"https:\/\/yareport.com\/?p=1052"},"modified":"2022-12-17T02:17:13","modified_gmt":"2022-12-17T02:17:13","slug":"sam-bankman-fried-to-testify-before-congress-next-week","status":"publish","type":"post","link":"https:\/\/yareport.com\/index.php\/2022\/12\/10\/sam-bankman-fried-to-testify-before-congress-next-week\/","title":{"rendered":"Sam Bankman-Fried to testify before Congress next week\ufffc"},"content":{"rendered":"\n<p>FTX&#8217;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.<\/p>\n\n\n\n<p>United States House committee on financial services said in a statement on Friday that the panel would hear from FTX\u2019s newly appointed CEO John Ray, and from Bankman-Fried on 13 December.<\/p>\n\n\n\n<p>The FTX founder and former chief executive, who stepped down when it filed for <strong>chapter 11 bankruptcy protection on 11 Novembe<\/strong>r, tweeted that he would give evidence to the House financial services committee on Tuesday.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">1) I still do not have access to much of my data &#8212; professional or personal.  So there is a limit to what I will be able to say, and I won&#39;t be as helpful as I&#39;d like.<br><br>But as the committee still thinks it would be useful, I am willing to testify on the 13th. <a href=\"https:\/\/t.co\/KR34BsNaG1\">https:\/\/t.co\/KR34BsNaG1<\/a><\/p>&mdash; SBF (@SBF_FTX) <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1601186246990401537?ref_src=twsrc%5Etfw\">December 9, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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 \u201cmodel CEO\u201d who would not become lazy or disconnected, who had then created a \u201cdestructive\u201d situation when he did. \u201cI\u2019m sorry,\u201d he tweeted. \u201cHopefully people can learn from the difference between who I was and who I could have been.\u201d<\/p>\n\n\n\n<p>He listed specific issues he would be able to discuss with the committee, including the solvency of FTX\u2019s US business, its American customers, and <strong>possible solutions<\/strong> for returning assets to international clients. He also said he could talk about what he thinks led to the crash and <strong>\u201cmy own failings\u201d.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"FTX&#8217;s CEO Sam Bankman-Fried is set to testify before Congress next week&hellip;\n","protected":false},"author":4,"featured_media":1053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false},"categories":[19],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts\/1052"}],"collection":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/comments?post=1052"}],"version-history":[{"count":2,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts\/1052\/revisions"}],"predecessor-version":[{"id":1055,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts\/1052\/revisions\/1055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/media\/1053"}],"wp:attachment":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/media?parent=1052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/categories?post=1052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/tags?post=1052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}