FTX hearing on Capitol Hill following Sam Bankman’s arrest

This Congressional hearing is held with the Sam Bankman-Friend (SBF) not being present at the time. Meanwhile SBF has been criminally charged and is being extradited from Bahamas to the US where he potentially faces a long prison sentence if the charges will be proven true.

It has been alleged that SBF has misused investors funds by funneling large sums to a partner company Alameda Research from which he used the funds for illegitimate purposes.

This story will continue to unfold even more once SBF is back in the US and been available to testify and answer in person.

His extradition is happening surprisingly fast which may indicate that the prosecution already has a very solid case against SBF.

SBF will face very hard questions in the following days since he has been on a tour of somewhat volunteering information about what happened with FTX just before and after the recent collapse. He has been playing the ignorance card and seems to suddenly not remember many important details.

We will see how his memory will serve him once he starts answering for the collapse of FTX which caused millions of investors to lose billions of their investments.

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