Abstract：On Sunday, FTX founder Sam Bankman-Fried tweeted that he will appear before the House Financial Services Committee after "learning and revisiting" the circumstances that led to his cryptocurrency exchange's stunning collapse.
On Sunday, FTX founder Sam Bankman-Fried tweeted that he will appear before the House Financial Services Committee after “learning and revisiting” the circumstances that led to his cryptocurrency exchange's stunning collapse.
The House Financial Services Committee in the United States planned to conduct a hearing in December to examine the collapse of FTX and expects to hear from the firms and people involved, including founder and CEO Bankman-Fried.
Committee Chair Maxine Waters asked Bankman-Fried to attend the panel's hearing on December 13 last week.
“Once I have completed learning and assessing what transpired,” the creator and former FTX CEO responded in response to Waters.
Bankman-Fried went on to say that he was unclear whether it will happen before December 13.
He denied allegations of fraud in a series of interviews last week, after his company's collapse, which surprised investors and left creditors facing billions of dollars in damages.
After a week in which a possible merger with rival crypto exchange Binance fell through, Bankman-Fried was accused of funneling customer deposits to FTX's affiliated trading firm Alameda Research, and the exchange experienced $6 billion in withdrawals in just 72 hours, FTX filed for bankruptcy in November.
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