The former CEO of FTX Exchange and Alameda Research previously ignored a subpoena’s deadline to confirm his appearance before the Senate Banking Committee.
Sam Bankman-Fried continued his “apology tour” by joining Unusual Whales on Twitter, where he informed the approximately 60,000 viewers that he will be appearing before the Financial Services Committee of the US House of Representatives virtually on December 13. Previous confirmation of his appearance in person.
Despite the threat of a subpoena, Bankman-Fried, who is purportedly currently residing in the Bahamas, failed to confirm his appearance before the Senate Banking Committee the following day.Despite frequently appearing in front of crowds, Bankman-Fried has stopped tweeting since Dec. 9, when he confirmed his attendance at the House committee meeting.
The House hearings before the whole committee will also feature John Ray, who replaced Bankman-Fried as the CEO of FTX since the company filed for bankruptcy. Ray, who handled Enron’s bankruptcy, has expressed his disgust with FTX’s management.
Ben McKenzie and Hilary Allen, two crypto-skeptics, are anticipated to show up at the Senate hearing. Allen teaches law, and McKenzie, whose real name is Ben McKenzie Schenkkan, is an actor who has spoken out against cryptocurrency, defying the contentious trend of famous people endorsing it. The Cato Institute’s director of Financial Regulation Studies Jennifer Schulp and investor and former FTX spokesperson Kevin O’Leary are also scheduled to testify.
It is said that the United States has threatened to extradite Bankman-Fried from the Bahamas. It is also said that he is being prosecuted for crimes there. The U.S. Justice Department is apparently conducting its own investigation into Bankman-Fried for fraud involving money transfers from the United States to the Bahamas that were made just days before FTX filed for bankruptcy.
Mark Cohen, a former federal prosecutor, has apparently been engaged by Bankman-Fried for his defense. For defending socialite Ghislaine Maxwell, Cohen is best known. Former Securities and Exchange Commission Enforcement Director Stephanie Avakian will reportedly represent Caroline Ellison, the former CEO of FTX-affiliated Alameda Research.