FTX founder Sam Bankman-Fried tweeted on Sunday that he will testify before the House Financial Services Committee after completing his “study and review” of the events that led to his cryptocurrency exchange’s spectacular collapse.
The US House Financial Services Committee plans to hold a hearing in December to investigate the collapse of FTX and expects to hear from the companies and individuals involved, including founder and CEO Bankman-Fried.
Committee Chairwoman Maxine Waters last week invited Bankman-Fried to appear at the panel’s Dec. 13 hearing.
“After I had finished researching and reviewing what happened, I felt it was my duty to come before the committee and explain,” the FTX founder and former CEO wrote in a response to Waters.
Bankman-Fried added that she was not sure that would happen before Dec. 13.
He dismissed suggestions of fraud in a series of interviews last week after his company’s collapse stunned investors and cost creditors billions of dollars in losses.
In November, FTX filed for bankruptcy a week after a potential merger with rival cryptocurrency exchange Binance failed, Bankman-Fried was accused of diverting customer deposits to FTX-linked trading firm Alameda Research, and the exchange only had 72 withdrew about 6 billion dollars in an hour. .