Bankman-Fried says he’ll testify earlier than US Home committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify earlier than the Home Monetary Companies Committee after ending “studying and contemplating” the occasions that led to the dramatic collapse of its cryptocurrency alternate.

The US Home Monetary Companies Committee plans to carry a listening to in December to analyze FTX’s collapse and expects to listen to from the businesses and people concerned, together with founder and CEO Bankman-Fried.

Final week, committee chair Maxine Waters invited Bankman-Fried to take part within the panel listening to on Dec. 13.

“As soon as I end studying and reviewing what occurred, I might really feel prefer it was my responsibility to return earlier than the committee and clarify myself,” the official wrote. founder and former CEO of FTX in a response to Waters.

Bankman-Fried added that he wasn’t positive that may occur earlier than Dec. 13.

He dismissed strategies of fraud in a sequence of interviews final week after the collapse of his enterprise shocked traders and left collectors dealing with losses totaling billions of {dollars}.

FTX filed for chapter in November after per week by which a possible merger with rival crypto alternate Binance failed, Bankman-Fried was accused of routing buyer deposits to FTX buying and selling affiliate Alameda Analysis, and the alternate noticed withdrawals of round $6 billion in simply 72 hours. .

Reporting by Akriti Sharma in Bengaluru; Modifying by Stephen Coates

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