Sam Bankman-Fried misses deadline to respond to testimony request, now what?
Crypto’s public enemy number one, Sam Bankman-Fried has missed a crucial deadline to confirm his appearance at an upcoming Senate Committee hearing.
The former FTX CEO missed a Thursday 5pm ET on Dec. 8, deadline for responding to a Senate Banking Committee request that he testify at the Committee meeting on Dec. 14. This has set up the possibility of a congressional subpoena.
On Dec. 8, the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, Sherrod Brown, and ranking member of the Committee Senator Pat Toomey released a statement on the request.
“FTX’s collapse has caused real financial harm to consumers, and effects have spilled over into other parts of the crypto industry. The American people need answers about Sam Bankman-Fried’s misconduct at FTX,” they stated before adding:
According to the official Committee website, the hearing titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers” will be webcast on Dec. 14.
So far, two witnesses have been confirmed to attend the hearing — including American University Washington College of Law Professor Hilary J. Allen, and, Actor and Author Ben McKenzie Schenkkan.
Professor Allen is an academic whose research focuses on the impact of new financial technologies on the stability of the financial system. Ben McKenzie is an anti-crypto actor-turned-commentator who played a troubled teenager on a U.S. television series called “The O.C.”
Messari founder Ryan Selkis commented on the futility of the witness selection:
The Senate Banking FTX hearing is a complete goat rodeo and mockery of the system.I offered to go even though it would have been a distraction, but instead the Senate opted for the former child star of the OC and a “never crypto”
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