Financial Services Chairwoman Maxine Waters (D-CA) does not plan to subpoena Sam Bankman-Fried to compel testimony at next week’s hearing on the FTX collapse.
Sam Bankman-Fried, a 30-year-old Democrat darling, spent more than $40 million to fund the midterms with his Ponzi scheme through the crypto exchange he founded (FTX).
Up to $2 billion is ‘missing’ after FTX collapsed last month.
Sam Bankman-Fried is Biden’s second biggest donor and he was funneling money through Ukraine – and that money sent to Ukraine was in turn used to fund the Democrats.
Bankman-Fried still hasn’t been arrested even though he publicly admitted he didn’t buy bitcoin for clients – he just took their money.
Maxine Waters nicely asked Sam Bankman-Fried to appear before the committee voluntarily next week.
Bankman-Fried has NOT yet agreed to testify and Maxine Waters isn’t even threatening to issue a subpoena!
House Financial Services Committee Chair Maxine Waters told Democrats she doesn’t plan to subpoena former FTX CEO Sam Bankman-Fried to testify at Tuesday’s hearing about the crypto exchange’s rapid demise, according to people with direct knowledge of the conversation.
Waters informed committee members of her decision at a private meeting Tuesday with Securities and Exchange Commission Chair Gary Gensler on Capitol Hill, these people said, declining to be named in order to speak freely about private conversations.
Those at the meeting say Waters said she wants committee staff try to convince Bankman-Fried to voluntarily testify, those with knowledge of the meeting said. As of late Wednesday, Bankman-Fried has yet to agree to voluntarily testify to the House committee, two of the people explained.
Waters, who will lose the chair title when Republicans take control of the House on Jan. 3, could end up deferring to Rep. Patrick McHenry, R-N.C., the panel’s top Republican and likely next chair, to decide whether to subpoena Bankman-Fried in the next congressional session if the FTX founder declines to voluntarily testify under oath next week.