SBF’s Refusal To Testify Before US Congress Provokes Reaction On Crypto Twitter
The former chief executive of FTX Exchange, Sam Bankman-Fried (SBF), has refused to attend the US House Committee on Financial Services hearing, which is to be held on December 13. Hence, Maxine Waters, the chairman of the committee, invited Sam Bankman-Fried to testify in the committee’s presence.
This move is part of the committee’s investigation into the fall of one of the world’s leading crypto exchanges, FTX. In a statement, she noted the straightforward talks by Sam Bankman-Fried about what happened to FTX.
Hence, she urged him to bring the talk to the public as it would help FTX’s users, investors, and others affected by the crash.
Sam Bankman-Fried Formally Decline A Scheduled House Hearing
In a recent tweet by Sam Bankman-Fried, the FTX founder publicly declined to attend the house committee hearing on financial services.
Bankman-Fried claims that he is still investigating the FTX fall, and once he is done investigating what happened, he will take it upon himself to make sure he appears before the committee and testifies.
If Sam Bankman-Fried truly has the interests of users and investors in FTX at heart, he should make every effort to testify, Congresswoman Maxine Waters opined. Also, a high-ranking congressman Patrick Henry shared similar sentiments as Waters.
However, concerns have been made about Sam Bankman-Fried’s influence on American politics. His public denial of a scheduled US House hearing further aggravated these concerns.
Some people have even questioned why Maxine Waters is in charge of the FTX collapse inquiry, given that it is a known fact that Bankman-Fried has often given money to her and other political figures.
A Twitter user @rahulsood tweeted at Maxine Waters, saying the congressman treated Mark Zuckerberg like a criminal but praised the real criminal. Then, he remarked that he no longer respects the congresswoman.
Crypto Twitter’s Reaction To Sam Bankman- Fried’s Behavior
Jake Chervinsky, Head of Policy at the Blockchain Association, stated that Sam doesn’t mind lying to George Stephanopoulos or Andrew Ross Sorkin, but telling a lie to Congress under oath is less tempting.
Despite SBF’s lies to customers, it is surprising that the US Congress supported his errors that caused FTX to fail. It is no wonder some people have questioned congress’ handling of the issue. Elon Musk, the CEO of Twitter, also believes that Sam Bankman-Fried should not be given special treatment or media coverage before his court appearance.
In addition, he claimed that Sam had given billions of dollars in support to the Democrats in their elections. Hence, the Tesla CEO said it might be impossible for Congress to find any wrong in SBF’s actions.
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