Sam Bankman-Fried’s arrest before a hearing dedicated to the collapse of his FTX empire deprived lawmakers of an opportunity to question the disgraced crypto founder.
(Bloomberg) — Sam Bankman-Fried’s arrest before a hearing dedicated to the collapse of his FTX empire deprived lawmakers of an opportunity to question the disgraced crypto founder.
Even his prepared testimony, a draft of which was obtained by Bloomberg News prior to his arrest, raised eyebrows. Bankman-Fried would have opened his statement with: “I would like to start by formally stating, under oath: I f—ed up.”
Current FTX Chief Executive John J. Ray III, who did appear at the hearing, fielded questions about the testimony. Emanuel Cleaver, a Democrat from Missouri, called it “so disrespectful” and “absolutely insulting.” Ray said he had not read the remarks.
Follow the hearing live.
Read the full draft of his remarks here:
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