Sam Bankman-Fried Opts To Testify Before Congress Remotely Over Security Issues And “Paparazzi”

Former FTX CEO Sam Bankman-Fried (SBF) has said that he can’t travel to Washington, D.C. due to his busy schedule and security concerns about paparazzi.

As such, SBF will testify virtually before Congress on Tuesday.

“From a security standpoint … It’s very difficult for me to move right now and travel because just, like, the paparazzi effect is quite large", SBF said during a Twitter Spaces Interview.

FTX, the subject of SBF’s planned testimony before the House Financial Services Committee, was once valued at $32 billion, filed for bankruptcy protection after a run on its utility token last month following concerns that the business wasn’t properly capitalized.

The disgraced crypto boss remains in the Bahamas, where FTX’s main trading subsidiary, FTX Digital Markets, is based.

Bankman-Fried has not committed to appearing before the Senate Banking Committee, which will hold its hearing on Wednesday and has threatened him with a subpoena.

Although he’s avoided leaving the Bahamas since the FTX crash, Bankman-Fried said he would not expect to be detained if he enters the country, despite ongoing law enforcement investigations into the company’s practices leading up to the collapse.

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