FTX founder Sam Bankman-Fried will testify next week at a US congressional hearing on the collapse of his crypto group, in a U-turn that will mark his first public contact with US officials about the events surrounding its bankruptcy.
Maxine Waters, chair of the US House committee on financial services, on Friday announced Bankman-Fried’s participation in the first hearing on the topic scheduled for December 13. Just hours before the entrepreneur said he was “willing to testify”.
The panel is investigating the collapse of FTX as lawmakers try to piece together how Bankman-Fried’s once-$32bn crypto empire imploded, leaving potentially millions of creditors including retail investors with losses.
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