FTX founder SBF agrees to testify on the 13th. Details

Sahana Kiran
Source – Rolling Stone

Over the last couple of days, discussions pertaining to FTX and its founder Sam Bankman-Fried escalated. US lawmakers like Maxine Waters were urging SBF to appear before the House Financial Services Committee. and testify. However, the former CEO of the exchange wasn’t so sure about it. Things however seem to have taken a different route.

In a series of tweets replying to Waters, SBF affirmed that he would testify before the U.S. House Committee on Financial Services on December 13. While noting that he still did not entail access to his personal or professional data, SBF tweeted,

“So there is a limit to what I will be able to say, and I won’t be as helpful as I’d like. But as the committee still thinks it would be useful, I am willing to testify on the 13th.”

Back when SBF wasn’t sure about testifying next week, Waters pointed out that his testimony was “imperative.”She reminded the FTX founder how the downfall of his platform had harmed more than a million people. Therefore, his attendance was highly sought after.

SBF, in his latest tweet, revealed that he would shed light only on certain things during the hearing. This would include,

Here’s how many lawsuits are against SBF

Additionally, it should be noted there are a total of seven class action lawsuits against SBF. Podalsky et al. v. Bankman-Fried et al., Jessup v. Bankman-Fried et al., Hawkins v Bankman-Fried et al., Pierce v. Bankman-Fried et al., Kavuri v. Bankman-Fried et al., Lam v. Bankman-Fried and Garrison v. Bankman-Fried et al..

Peter Schiff also decided to comment on the situation. While complaining that FTX’s founder had disabled the comment section he tweeted,

“I tried to reply to @SBF_FTX’s tweet about testifying before #Congress but he disabled replies. His claim that because he doesn’t have access to his data he can’t be as helpful as he’d like seems like another lie. He doesn’t need data to tell the truth and more lies won’t help.”