Sam Bankman-Fried, the former CEO of FTX, has agreed to give a testimony on December 13th at a hearing held by the House Financial Services Committee regarding the collapse of his crypto exchange.
SBF commented in a Twitter thread from December 4th, where the committee said they might see that the material SBF has provided so far is sufficient for testifying based on his position as CEO and your recent media interviews.
According to the committee’s statement:
As you know, the collapse of FTX has harmed over one million people. Your testimony would not only be meaningful to Members of Congress but is also critical to the American people.
They asked SBF to attend their hearing on the 13th and also indicated that they would be open to setting up further hearing dates if additional information arose.
The former CEO of FTX said that he still does not have access to much information about his cryptocurrency company and the factors that caused it to fail. However, he agreed to attend the hearing on December 13th because the committee thought it would be helpful.
He claimed that “so there is a limit to what I will be able to say, and I won’t be as helpful as I’d like.” He claims that he will make an effort to be useful during the hearing and to clarify as much as possible about “FTX US’s solvency and American customers.”
However, he had viewed himself as a role-model CEO who would avoid being unmotivated or unfocused. “Which made it that much more destructive when I did.” He also expressed regret and wished that others could draw lessons from the contrast between his actions and his potential.
Bahamas’ Attorneys Seek Access To FTX Database
An emergency petition was filed by the attorneys representing the Securities Commission of the Bahamas, asking a Delaware bankruptcy court judge for permission to access FTX Inc.’s customer database in order to continue their investigations into the company’s mystery collapse.
As reported by CNBC, the motion claims that Bahamian regulators have been unable to access vital financial data stored in databases hosted by Amazon Web Services and Google Cloud Portal due to resistance by FTX employees and counsel despite several attempts to do so.
Per the motion statement:
While the Joint Provisional Liquidators are happy to engage in dialogue with the U.S. Debtors, their refusal to promptly restore access has frustrated the ability of the Joint Provisional Liquidators to carry out their duties under Bahamian law and placed FTX Digital’s assets at risk of dissipation.
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