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The
U.S. House Financial Services Committee plans to hold a hearing
in December to investigate the collapse of FTX and expects to
hear from the companies and individuals involved, including
founder and CEO Bankman-Fried.
Committee Chair Maxine Waters last week invited Bankman-Fried to
participate in the panel's hearing on Dec. 13.
"Once I have finished learning and reviewing what happened, I
would feel like it was my duty to appear before the committee
and explain," the founder and former FTX CEO wrote in a reply to
Waters.
Bankman-Fried added that he was unsure if that would happen
before Dec. 13.
He rejected suggestions of fraud in a range of interviews last
week after his company's collapse stunned investors and left
creditors facing losses totaling billions of dollars.
FTX filed for bankruptcy in November after a week in which a
possible merger with rival crypto exchange Binance failed,
Bankman-Fried was accused funneling customer deposits to FTX's
affiliated trading firm Alameda Research, and the exchange
experienced withdrawals of about $6 billion in just 72 hours.
(Reporting by Akriti Sharma in Bengaluru; Editing by Stephen
Coates)
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