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We Will Issue A Subpoena If You Refuse To Testify Willingly – Senate Committee Writes Bankman-Fried

Following the fall of the popular crypto exchange FTX, many fingers have been pointed, and the relevant overseeing bodies have tried to get the founder of the exchange, Sam Bankman-Fried, to attend their hearings and testify. However, it seems that the ex-CEO does not have any intention to do that.

It is in this light that the United States Senate Committee on Banking, Housing, and Urban Affairs is inviting him to its hearing on the 14th of this month and casually throwing in the option of a subpoena should he refuse to do so willingly. 

Is Sam Bankman-Fried putting up a front?

One would ordinarily expect a man who claims to have made the biggest mistake of his life and would give anything to take back his actions to jump at any slight opportunity to fix the situation. It appears this is not the case for Sam Bankman-Fried, the founder of the failed FTX exchange.

Since the deplorable fall of the popular crypto exchange, FTX, the former CEO of the failed exchange, has granted a lot of press interviews and taken to his Twitter page to talk nonstop about the bankruptcy. One would ordinarily think that he is willing to be helpful and get to the root of the problem.

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However, it appears as though Bankman-Fried’s actions were nothing but a front, considering he told Maxine Waters of the House Financial Services Committee when she invited him via a tweet to the House’s hearing on the 13th of this month, “no.”

Maxine Waters had commended him, saying that he has been continuously ready to talk about what really went down from his side, and had invited him to the House’s hearing on the 13th of this month, which he declined and said that he does not think that he’d be ready with all of the answers by then. 

Bankman-Fried Will Forcefully Testify At The Congress

Senators Sherrod Brown, who is the chair of the Senate Banking Committee, and Pat Toomey, who is a member of the said committee, have jointly released a public letter to Sam Bankman-Fried inviting him to the committee’s hearing on the 13th of this month.

According to them, should he ignore the invitation, the committee is willing to issue a subpoena and make him “forcefully testify.” They acknowledged that the magnitude of the exchange’s fall was so great that quite a lot of well-meaning Americans as well as other people from all over the world were affected. 

Both senators noted that ordinarily, Bankman-Fried ought to be happy to help and attend the hearing without being forced, but if he chooses not to honour the invitation, they would have to get him there against his will. 

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As it is, it appears that the former CEO can no longer hide for long. He is still the subject of so many investigations, and as it looks right now, the situation might not change for a really long time.


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Jimmy Kelly

Jimmy is one of the news journalists for Tokenhell. He is a big crypto enthusiast and bought his first crypto token way back in 2015! Jimmy publishes updates about crypto tokens, events, price analysis and regulation among many other subjects.

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