Sam Bankman-Fried is being handled with child gloves, according to Coinbase CEO Brian Armstrong, despite being suspected of a $10 billion scam.
FTX Fraud Case
Maxine Waters, a congresswoman from California, very politely asked the founder of FTX to attend the hearing of the US House Committee on Financial Services on December 13 during a recent Twitter conversation between Bankman-Fried and her. He described that interaction.
Bankman-Fried responded by saying that he would feel like it was my duty to appear before the committee and explain once he has finished learning and reviewing what happened, but he is not sure that will happen by the 13th.
Armstrong called the interaction bizarre and characterized Bankman-response Fried’s as politely delaying, and Waters has since stated that a subpoena is absolutely on the table if Bankman-Fried doesn’t appear.
Read more: FTX Scandal: DOJ Seeks Independent Probe to Collect Evidence of Corruption Against Sam Bankman-Fried
US Politicians Seek Response From Sam Bankman-Fried
Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has been ordered by lawmakers to appear before the Senate Banking Committee the following week due to the many unresolved issues surrounding the failure of his companies.
The Democratic chairman of the committee, Sen. Sherrod Brown of Ohio, and Republican Sen. Pat Toomey of Pennsylvania wrote a letter to Bankman-Fried and his attorney stating that the American people require answers regarding Bankman, misconduct Fried’s that resulted in the demise of FTX and its sister hedge fund, Alameda, both of which declared bankruptcy on November 11.
Bankman-willingness Fried’s to comply was unclear, a representative for his lawyer cited Bankman-tweet Fried’s from the previous day, in which he informed California Democrat Rep. Maxine Waters that he couldn’t promise to testify at a hearing scheduled for December 13, the day before the Senate committee hearing.
In her letter to the committee, Bankman-Fried stated that she would feel obligated to appear and provide an explanation once she had finished studying and reviewing what had occurred.
Read more: FTX Bankruptcy: Founder Sam Bankman-Fried’s Questionable Digital Transfer to Bahamas Government
