Sequel to the invitation posed by the United States House Committee on Financial Services to the former FTX boss Sam Bankman-Fried (SBF), the latter has stylishly rejected the invite on the premise that he is yet to fully understand and review what led to the FTX collapse.
He made the disclosure in the course of responding to a Dec. 2 Tweet by the U.S. Representative Maxine Waters, who informed him to show up at the hearing of the House Committee on Financial Services slated for Dec. 13th.
SBF stressed that he knows it is his duty to present himself before the House committee for a detailed explanation but that can only be possible after understanding and reviewing what transpired.
While SBF’s presence at the upcoming House hearing is highly uncertain, he has recently featured in several virtual conferences and meetings.
Recall that he had an in-depth conversation on the FTX collapse with New York Times Journalist Andrew Sorkin on Nov. 30 at the NYT DealBook Summit.
Meanwhile, SBF’s reaction to the House committee has generated a couple of reactions in the crypto community. Blockchain Association Head of Policy and U.S. Attorney Jake Chervinsky has criticized him, saying he knows lying to Congress under oath won’t be appealing.
In the same vein, Coinbase CEO Brain Armstrong has been on the neck of SBF, berating him for distorting facts. Armstrong argued that even the most gullible person should not consume SBF’s lies that billions of dollars were transferred to Alameda Research through unintentional “accounting error.”
Unravelling the Mystery Behind FTX Collapse
There is no doubt that unravelling the mystery behind FTX collapse is one of the most anticipated events in crypto space. World’s richest man and Twitter CEO Elon Musk has berated the media attention given to SBF, saying that he should be given an ‘adult timeout.’
Musk further revealed that SBF donated $1B to the U.S. Dem elections in a view to corroborating the statement of Will Manidis, CEO of ScienceIO, who contended that SBF donated $40m as a cover up to escape being prosecuted for $10b fraud.
It is only a matter of time as the underlying FTX mysteries will eventually be uncovered.
