Why SBF Says He’s Unlikely To Testify In This Month’s Hearing!

Why SBF Says He’s Unlikely To Testify In This Month’s Hearing!

Despite having been invited by lawmakers to a hearing on his fallen crypto exchange this December, former FTX CEO Sam Bankman-Fried says he’s “unsure” if he’ll participate in the hearing.

The U.S. House Hearing

Earlier this Friday, U.S. Rep. Maxine Waters publicly tweeted an invitation to former FTX CEO Sam Bankman-Fried to testify before the U.S. House of Representatives Financial Services Committee for a hearing scheduled on December 13th in Washington, D.C.

“Your willingness to talk to the public will help the company’s customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th.” Rep. Maxine Waters wrote.

Bankman-Fried however, has recently tweeted out his own reply, declining this invitation, claiming that he is unsure if he’ll be able to join the hearing on December 13th because he still needs time to learn and review what happened to cause the fall of his crypto exchange.

“Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.” SBF wrote, “I’m not sure that will happen by the 13th.  But when it does, I will testify.”

Related: SBF Shifts FTX Blame: “I Didn’t Knowingly Commingle Funds”

Bankman-Fried’s Claims So Far

SBF’s declined testifying at the December 13th hearing comes days after a number of interviews that the former CEO had done with a number of different media outlets including Good Morning America and the Dealbook Summit. 

Throughout his interviews these past few days, SBF seems to be committed in claiming his innocence, arguing that he had no malicious intent in misusing users’ funds and that he had not created the rumored ‘backdoor system’ to quietly take FTX’s users funds without anyone’s knowledge.

Despite this however, many in crypto Twitter have pointed out the ironic fact that Bankman-Fried had no issues in explaining ‘his side of the story’ of what had happened in the fall of FTX throughout these interviews, but that he seemingly rejects to join the house hearing where he’ll need to explain everything under oath.

Related: CFTC Chair: Bitcoin Is The Only Commodity

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