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Sam Bankman-Fried misses deadline to respond to testimony request, now what?

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Cryptocurrency archenemy Sam Bankman-Fried has missed a critical deadline to confirm his attendance at a Senate committee hearing.

The former FTX CEO missed the deadline for responding to the Senate Banking Committee’s request to testify at its December 14 committee meeting on Thursday, Dec. 8 at 5 p.m. ET. This set up the possibility of a parliamentary subpoena.

On December 8, Sherrod Brown, chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Senator Pat Toomey, a senior member of the committee, said: statement upon request.

The collapse of FTX has caused substantial economic damage to consumers, and its effects have spilled over into other parts of the cryptocurrency industry. We need answers about,” they added.

The Commission has requested that he testify at the next hearing regarding the collapse of FTX and will consider further action if he does not comply.

According to the official commission websitethe hearing titled Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers will be webcast on December 14th.

So far, two witnesses have been confirmed to attend the hearing. Among them are American University of Washington Law School professor Hilary J. Allen and actor and author Ben Mackenzie Schenkkan.

Professor Allen is an academic whose research focuses on the impact of new financial technologies on the stability of the financial system. Ben McKenzie is an anti-crypto actor turned commentator who played a troubled teenager on the US TV series The OC.

Messari founder Ryan Serkis commented on the futility of witness selection:

Meanwhile, Cointelegraph reached out to Ben McKenzie for comment.

Related: Texas enforcers want Sam Bankman-Fried to attend February hearings

In addition to the Senate Banking Committee hearing on Dec. 14, Bankman-Fried is scheduled to attend another hearing with the U.S. House Financial Services Committee on Dec. 13 called “FTX Collapse Investigation.” requested.

Bankman-Fried was first asked to attend the hearing via a Twitter post from Rep. Maxine Waters, but said he did not know what would happen by the date of the hearing on Dec. 5. You seem to have declined the invitation. I testify

Waters responded on Dec. 8, saying that if Bankman-Fried did not voluntarily testify at the hearing, “certainly a subpoena is being considered.”

The collapse of SBF’s FTX empire has sparked a tsunami of backlash from US lawmakers and regulators, threatening to drown the fledgling crypto industry.