Sam Bankman-Fried agrees to voluntarily testify at U.S. House hearing on Tuesday

FTX laminitis Sam Bankman-Fried has agreed to attest earlier the House Financial Services Committee astatine a proceeding astir the crypto exchange's illness connected Tuesday, helium said successful a bid of tweets Friday morning.

There's been a batch of backmost and distant successful Washington implicit whether lawmakers would person to subpoena Bankman-Fried, who said helium would voluntarily attest since the committee "still thinks it would beryllium useful." It was unclear whether helium would amusement up connected Capitol Hill successful idiosyncratic oregon enactment successful the Bahamas wherever he's been holed up for overmuch of the clip since his institution filed for bankruptcy past month, holding interviews with reporters.

In his tweet thread, the disgraced erstwhile "darling" of crypto appeared to laic blasted connected Binance laminitis Changpeng "CZ" Zhao.

The ex-CEO of FTX has been connected a media blitz the past period talking astir the implosion of his crypto empire, but this volition beryllium the archetypal clip the nationalist has the accidental to perceive from SBF nether oath.

Bankman-Fried wrote that helium inactive did not person entree to overmuch of his data, nonrecreational oregon personal, truthful determination was a "limit" to what helium would beryllium ably to say.

"I won't beryllium arsenic adjuvant arsenic I'd like. But arsenic the committee inactive thinks it would beryllium useful, I americium consenting to attest connected the 13th," continued the post.

Bankman-Fried utilized his tweet thread to antagonize Binance brag Zhao, claiming that helium had "won," and that the restrictions that Zhao wanted to enforce arsenic portion of Binance's aborted bailout were excessively onerous.

Bankman-Fried didn't deliberation determination were immoderate winners, helium said successful a tweet.

"Seeing however CZ talks, I'm beauteous definite helium does," Bankman-Fried continued.

"Sam was truthful unhinged erstwhile we decided to propulsion retired arsenic an capitalist that helium launched a bid of violative tirades astatine aggregate Binance squad members," Zhao wrote successful a Twitter thread.

In the days starring up to FTX's collapse, Zhao was heralded arsenic a potential savior for the exchange. FTX was erstwhile considered to beryllium the astir unchangeable and reliable crypto speech successful the industry, but an nonfiction from CoinDesk revealed an alarming attraction of self-issued FTT tokens being utilized arsenic collateral for billions successful loans for Alameda Research, Bankman-Fried's crypto hedge fund. The article, paired with Alameda CEO Caroline Ellison's tweet activity, sent FTX into a liquidity crisis.

Bankman-Fried was responding to a bid of tweets posted by Zhao astir wherefore Binance walked retired connected the imaginable acquisition offer. When Binance stepped away, FTX fell into freefall, yet filing for bankruptcy extortion soon after.

Zhao torched Bankman-Fried for rampant spending connected vanity projects from selling to "mansions." He was responding to a Thursday greeting appearance by CNBC contributor Kevin O'Leary connected "Squawk Box."

O'Leary had said that helium mislaid his full $15 cardinal payday and was embarrassed astatine his deficiency of owed diligence.

Bankman-Fried has played coy with lawmakers, contempt a menace to subpoena him from the Senate Finance Committee this week and repeated demands from House Financial Services Chair Maxine Waters, D-Calif., to attest nether oath astatine that panel's hearing.

Investors and regulators person been seeking answers from Bankman-Fried for immoderate clip now. Despite respective highly publicized media and Twitter spaces appearances, the erstwhile billionaire has revealed small astir the chaotic last days astatine FTX.

A increasing fig of investors and pundits judge that the lone spot Bankman-Fried should beryllium is successful prison. Legal experts CNBC spoke with accidental that his condemnation could hypothetically tally for his full life, if convicted.

Before Bankman-Fried agreed to testify, CNBC reported that Waters was not readying to subpoena the ex-billionaire. Waters pushed back, claiming a subpoena was "absolutely" connected the table.