Regulation
Crypto community baffled by SBF dictating terms over congressional hearing
Many in the crypto community pointed towards Bankman-Fried’s political donations and good Democratic connections via his parents, being one of the key reasons for him to evade arrest.
Sam Bankman-Fried, the former CEO of now-bankrupt cryptocurrency exchange FTX has declined to testify before the United States Congress until he’s “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
Bankman Fried’s unwillingness to testify before the Congress slated for Dec. 13, despite a barrage of media appearances, didn’t go down well with the crypto community. After a spiral collapse of FTX and its sister companies in the second week of November, Bankman-Fried made his first live public appearance on Nov. 30 during the New York Times’ DealBook Summit. A day later, he appeared in a Good Morning America interview and a Twitter space hosted by IBC Group founder and CEO Mario Nawfal.
Alex Berenson, an author by profession, took a quip at Bankman-Fried’s refusal to testify despite his media frenzy and said that the former CEO is “happy to talk to anyone and everyone… just as long as he’s not under oath.”
Related: Regulators face public ire after FTX collapse, experts call for coordination
Zerohedge, a popular libertarian financial blog, mocked the whole debacle and how Bankman Fried has managed to dictate terms with the lawmakers.
“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
Another user pointed toward the hefty donations made by the former CEO to the democratic party, implying that his donations have given him leverage to get away with stealing people’s money while telling Congress when he will 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/i6SmebwgxYpic.twitter.com/KiKTHmCsxl
— Viva Frei (@thevivafrei) December 5, 2022
A popular crypto influencer that goes by the Twitter name Crypto Bull called Bankman Fried, a “Democrat rat” who stole $8 billion in people’s money without facing any consequences while there are people in jail for smoking marijuana.
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
Another Twitter user called it a disgrace that a man who stole money from customers has the leisure to dictate terms with Congress. The user wrote:
“He shouldn’t have the option of “at his leisure” – they need to subpoena him to show up and get the handcuffs ready. Learning what happened is a complete lie.”
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.
