Regulation

Congresswoman Maxine Waters Urges Sam Bankman-Fried To Attend Congressional Hearing Next Week

Democratic congresswoman Maxine Waters is urging disgraced former FTX CEO Sam Bankman-Fried to rethink not attending subsequent week’s congressional listening to on the collapse of his crypto trade.

The U.S. Home Monetary Companies Committee, which Waters co-chairs, is holding a listening to investigating the FTX collapse on Wednesday, December 13.

As Bankman-Fried carried out a collection of high-profile media interviews the place he apologized for the collapse, Waters invited Bankman-Fried to testify earlier than the congressional committee.

Bankman-Fried, nevertheless, is declining to attend, saying he wants extra time to achieve a deeper understanding of what transpired.

“As soon as I’ve completed studying and reviewing what occurred, I’d really feel prefer it was my obligation to seem earlier than the committee and clarify. I’m unsure that may occur by the thirteenth. However when it does, I’ll testify.”

However Waters shot again, insisting Bankman-Fried honor her invitation to testify.

“Based mostly in your position as CEO and your media interviews over the previous few weeks, it’s clear to us that the data you’ve to this point is enough for testimony.

As , the collapse of FTX has harmed over a million folks. Your testimony wouldn’t solely be significant to Members of Congress, however can be vital to the American folks.

It’s crucial that you simply attend our listening to on the thirteenth, and we’re prepared to schedule continued hearings if there’s extra info to be shared later.”

US monetary regulators are additionally reportedly investigating FTX and searching into whether or not it mishandled its prospects’ funds.

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