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    Home»News»Crypto Community Reacts as Sam Bankman-Fried Indicates He’s Unsure of Testifying
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    Crypto Community Reacts as Sam Bankman-Fried Indicates He’s Unsure of Testifying

    Anietie DavidBy Anietie DavidDecember 5, 2022Updated:December 5, 2022No Comments3 Mins Read
    Crypto Community Reacts as Sam Bankman-Fried Indicates He's Unsure of Testifying
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    Former CEO of FTX, Sam Bankman-Fried, has signaled that he’s unwilling to testify before the United States Congress until he’s “finished learning and reviewing what happened.” This recent news has opened up a lot of opinions from crypto community members.

    Sam Bankman-Fried, the former CEO of the now-insolvent cryptocurrency exchange FTX, has said that he will wait to appear before Congress until he has “finished learning and reviewing what happened.”

    Rep. Waters, and the House Committee on Financial Services:

    Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.

    I'm not sure that will happen by the 13th. But when it does, I will testify. https://t.co/c0P8yKlyQt

    — SBF (@SBF_FTX) December 4, 2022

    SBF has had many public appearances during the last week, but it seems doubtful that he would give a testimony before the US House Committee on Financial Services hearing on December 13.

    Bankman-Fried was replying to a tweet issued by Maxine Waters on December 2 requesting him to appear before the U.S. House Committee on Financial Services at a hearing set for December 13 to address “what transpired” at FTX.

    The Crypto Community Calls for Justice

    The crypto community was not pleased with Bankman Fried’s refusal to appear before the Congress on December 13 despite a blitz of media appearances. In the second week of November, the FTX and its sibling firms spiraled into bankruptcy. On November 30, Bankman-Fried made his first live public appearance at the DealBook Summit hosted by the New York Times. A day later, IBC Group CEO and founder Mario Nawfal hosted him on Twitter and in an interview with Good Morning America.

    In response to Bankman-unwillingness to testify in the face of media attention, novelist Alex Berenson took a diss at the situation by joking that the former CEO is “glad to chat to anybody and everyone… just as long as he’s not under oath.”

    Some members of the community including Brian Armstrong, the CEO of Coinbase, noted that the reaction seemed inconsistent with his recent actions, which included participating in numerous media interviews and tweeting nonstop about the factors that contributed to FTX’s collapse in November.

    "It may take me 50 years to learn what happened in the company I ran, but by god I SWEAR it will be my duty to appear before Congress… some time in 2089" https://t.co/HjwFtjZajO

    — zerohedge (@zerohedge) December 5, 2022

    There are people in this country rotting in jail for life, because they smoked a few joints. Meanwhile this Democrat rat stole 8 billion dollars, roaming free and dictating Congress when he will appear. What the actual fuck? https://t.co/v4aniARj6U

    — CryptoBull (@CryptoBull2020) December 5, 2022

    It's stolen customer money used in his hedge fund, plain and simple.

    — Brian Armstrong (@brian_armstrong) December 3, 2022

    Jake Chervinsky, the head of policy for the Blockchain Association and an assistant U.S. attorney, suggested that Bankman-Fried was hesitant to participate in the hearing on December 13 because “lying to Congress on oath is less appealing.”

    Translation: he doesn't mind lying to Andrew Ross Sorkin or George Stephanopoulos, but lying to Congress under oath is less appealing. https://t.co/DZTyzMwn9s

    — Jake Chervinsky (@jchervinsky) December 4, 2022

    Another user brought up the former CEO’s substantial contributions to the democratic party, suggesting that these contributions gave him the leverage to get away with stealing people’s money while letting Congress know when he would testify.

    That’ll be good enough for @RepMaxineWaters. Whenever you’re ready, Sam. Take your time. After all, Sam and his family have been very good to Democrats.

    Like, (D)elightfully good.

     https://t.co/i6SmebwgxY pic.twitter.com/KiKTHmCsxl

    — Viva Frei (@thevivafrei) December 5, 2022

    Many in the crypto community have questioned the lawmakers in the U.S. over their failure to act swiftly against the disgraced CEO. Others have pointed toward Bankman-Fried’s hefty donations to Democrats and his political affiliations.

    Blockchain FTX Exchange Sam Bankman-Fried
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    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

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