Sam Bankman-Fried to testify at U.S. hearing on Dec. 13

Yahoo Finance Live’s Julie Hyman reports that Sam Bankman-Fried has agreed to testify before the U.S. House on December 13.

Video transcript

[AUDIO LOGO]

JULIE HYMAN: Well, one more item to catch up on. Sam Bankman-Fried is going to testify before the House Financial Services Committee after a back-and-forth with its chair, Congresswoman Maxine Waters. He previously said he wanted to wait until he finished learning and reviewing what caused FTX's collapse.

In response, Waters had told him that his role as CEO and media-- in C-- as CEO and also media interviews following the implosion suggests that his information is indeed sufficient for testimony. However, Bankman-Fried responded to this in a tweet, saying he still does not have access to much of his data-- professional or personal. But as the committee still thinks it would be useful, he is willing to testify on December 13.

And he concluded the Twitter thread by apologizing for his actions while in his role as CEO of FTX. Saying, quote, "Hopefully people can learn from the difference between who I was and who I could have been."

BRIAN SOZZI: Well, that's deep.

JULIE HYMAN: It's something.