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SBF Officially a Hearing Witness with Intent to Start New Business

Sam Bankman-Fried, the founder and former CEO of bankrupt cryptocurrency exchange FTX, has voiced out his interest in creating a new venture, in hopes of paying back the customers he owes money to.

“I would give anything to be able to do that. And I’m going to try if I can,” Sam Bankman-Fried responded when asked by BBC if he’d start a new business to repay FTX users.

“I’m going to be thinking about how we can help the world and if users haven’t gotten much back, I’m going to be thinking about what I can do for them,” he added. “I think at the very least I have a duty to FTX users to do right by them as best as I can.”

It is important to note that SBF believes that he did not commit fraud. However, he admitted that he was certainly not nearly as competent as he thought he was.

On another note, SBF is now officially a witness for the Dec. 13 hearing “Investigating the Collapse of FTX, Part I.” with the House Committee on Financial Services alongside John Ray, the new CEO of FTX.

According to Cointelegraph, Bankman-Fried has missed the deadline to confirm his appearance at a Senate Committee hearing on FTX’s collapse, scheduled for Dec. 14.

A Dec. 7 letter addressed to Bankman-Fried from Committee Chair Sherrod Brown warned that the senator was prepared “to issue a subpoena to compel your testimony.”

A statement on Dec. 9 from Brown and Senator Pat Toomey noted Bankman-Fried did not respond to the deadline and the committee “will continue to work on having him appear before Congress.”

Toomey tweeted on Dec. 9 that he’s “glad” Bankman-Fried would appear at the House hearing and added he expects the FTX founder at the Senate’s hearing the day after.

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