Bankman-Fried expressed interest in appearing before the Congress, but he will be fielding questions as a potential fraud. Last year, he was being hailed as a crypto industry stalwart in front of Congress. However, The former FTX CEO noted in the Tweet that he would “feel like it was my duty to appear before the committee and explain.”
Regardless of the date that Bankman-Fried appears before the Congress, he will face more than his fair share of scathing questions. Democratic Senators Elizabeth Warren and Dick Durbin have openly asked that FTX hand over its trove of accounting data so that a transparent audit can take place. In an open letter sent to Bankman-Fried, lawmakers wrote that FTX’s collapse justifies concerns that “crypto industry is built to favor scammers” and defraud investors.
Going a step further, Warren wrote in a Wall Street Journal op-ed that “if Mr. Bankman-Fried and FTX executives committed fraud, then federal prosecutors should send them to prison.” Bankman-Fried recently appeared in a series of media interactions, revealing that he has close to nothing left of his personal wealth and that the whole saga was a result of oversights and mishaps. Right now, he is in the Bahamas lending a hand with the bankruptcy proceedings at FTX and its related companies.
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