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FTX founder Sam Bankman-Fried says he’ll testify before the House Financial Services Committee

Sam Bankman-Fried, FTX founder, has shared on Twitter that he will testify in front of the House Financial Services Committee.

He made this announcement after he educated himself on the events that led to his cryptocurrency exchanges collapse.

According to Reuters, the committee will hold a hearing in December that will investigate the company’s collapse. They expect to hear from the companies and everyone involved in the situation.


Bankman-Fried has been accused of fraud following the collapse of the company, but he rejects these claims. Investors and creditors were left losing billions of dollars.

FTX tried to merge with Binance, but it failed and one week later the FTX collapse happened. Bankman-Fried was then accused of moving customer’s money to another trading firm called Alameda Research, which then had withdrawals worth $6 billion dollars in just three days.

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