Sam Bankman-Fried misses the deadline to respond to a testimony request. Now what?

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The Senate banking committee gave Sam Bankman-Fried until Dec. 8 at 5pm ET to respond to the request. News Own this piece in crypto history. Sam Bankman-Fried missed a critical deadline on Thursday, Dec. 8 at 5 PM ET to respond to a Senate Banking Committee request for him to testify at the Committee meeting Dec. 14. This has created the possibility of a congressional subpoena. Senator Pat Toomey, the ranking member of the Committee on Banking, Housing and Urban Affairs, and Sherrod Brown, the Chairman of the Senate Committee on Banking, Housing and Urban Affairs, released a statement on Dec. 8. “FTX’s collapse caused real financial harm to consumers and has had an impact on other parts of crypto industry. They stated that the American people require answers about Sam Bankman Fried’s misconduct at FTX. They also added: “The Committee has requested that he testify during our upcoming hearing on FTX’s collapse. We will consider further actions if he doesn’t comply. According to the official Committee website, the hearing titled “Crypto Crash” (Why the FTX bubble burst and the harm to consumers) will be webcast Dec. 14. Ben McKenzie is an anti-crypto actor-turned-commentator who played a troubled teenager on a U.S. television series called “The O.C. Ryan Selkis, Messari founder, commented on the futility in witness selection: “The Senate Banking FTX hearing was a complete goat rodeo” and mockery of the system. McKenzie played a troubled teenager on a U.S. television series called “The O.C.” Another waste of taxpayer $$$.– Ryan Selkis, @twobitidiot December 9, 2022
Meanwhile, Cointelegraph has reached out to Ben McKenzie for comment.Related: Texas enforcers want Sam Bankman-Fried to attend the hearing in FebruaryOther than the Dec. 14 Senate Banking Committee hearing, Bankman-Fried has also been requested to attend a separate hearing called “Investigating the Collapse of FTX” on Dec. 13 with the U.S. House Financial Services Committee.Bankman-Fried was first requested to attend the hearing via a Twitter post from Congresswoman Maxine Waters, but seemingly declined the invitation on Dec. 5 stating that he wasn’t sure what would happen by the hearing date, “but when it does, I will testify. Waters replied on Dec. 8 that “a subpoena was definitely on the table” in the event Bankman-Fried fails to testify at the hearing. The collapse of SBF’s FTX empire has triggered a tsunami of criticism from U.S regulators and lawmakers, which threatens to drown the fledgling crypto asset sector.