Sam Bankman-Fried misses deadline to respond to Senate Committee hearing

Sam Bankman-Fried misses deadline to respond to Senate Committee hearing

Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, has missed the deadline set by the U.S. Senate Committee on Banking, Housing, and Urban Affairs to affirm his visual appearance at an forthcoming listening to.

See linked write-up: Mark Karpeles on SBF

Rapid specifics

  • Bankman-Fried’s counsel failed to respond by the imposed deadline (Thursday, Dec. 8, 5 p.m. Jap Time), the Senate Committee said in a assertion, in accordance to Bloomberg. This failure to react introduces the possibility of a congressional subpoena. 
  • “FTX’s collapse has induced genuine economic hurt to buyers, and effects have spilled in excess of into other elements of the crypto marketplace. The American folks need to have solutions about Sam Bankman-Fried’s misconduct at FTX,” explained a joint statement by Sherrod Brown, chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Committee Senator Pat Toomey.
  • “The Committee has asked for that he testify at our upcoming hearing [on Dec. 14] on FTX’s collapse, and will think about even further action if he does not comply,” the statement additional.
  • Two witnesses have been verified to go to the listening to so much: American College Washington Higher education of Law professor Hilary J. Allen and actor Ben McKenzie Schenkkan.
  • Ryan Selkis, founder of crypto intelligence business Messari, has criticized the Committee’s witness choice, contacting the listening to a “complete goat rodeo and mockery of the method.” Selkis extra: “I available to go even while it would have been a distraction, but as a substitute the Senate opted for the former little one star of The OC [serial drama] and a ‘never crypto’ tutorial.”
  • On Friday, Bankman-Fried tweeted that he is “willing to testify on the 13th,” in a separate hearing requested by Home Money Products and services Chair Maxine Waters, in spite of alleging that he does not “have access to substantially of my data – professional or personal.”

See associated report: FTX failure a ‘wake-up call’ for stability, states former Mt Gox CEO Mark Karpeles