While the parents of Sam Bankman-Fried (SBF) both taught at Stanford, the Californian university informed that this was no longer the case for the moment. For its part, SBF will indeed testify on December 13 before the United States House Committee, explaining in passing that he considers himself a model CEO.
Sam Bankman-Fried’s parents no longer teach at Stanford
The consequences of Sam Bankman-Fried’s (SBF) actions now reverberate on his parents, who until then taught at the famous Stanford University in California. Indeed, the university revealed earlier in the week that Joseph Bankman, the father of SBF, had canceled the only course he was supposed to lead.
The course in question should deal with tax policy. Ironically though, at the height of the crisis, it was revealed that a house in the Bahamas worth $16.4 million was registered in the name of SBF’s parents, despite being used by FTX employees.
For her part, Barbara Fried, the mother of the person concerned, is not assigned to any course for the upcoming term. However, she argued that this would have been planned for a while and would not havenothing to do with anything else going on“. Moreover, it is not excluded that she teaches again at the university in the future.
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SBF will testify on December 13
As for Sam Bankman-Fried himself, while he “wasn’t sure” he could testify before the U.S. House Committee, he will finally be fine at the audition on December 13. On the other hand, SBF once again provided answers that seem out of step with the gravity of the situation, explaining “still not having access to a lot of data» :
1) I still do not have access to much of my data — professional or personal. So there is a limit to what I will be able to say, and I won’t be as helpful as I’d like.
But as the committee still thinks it would be useful, I am willing to testify on the 13th. https://t.co/KR34BsNaG1
— SBF (@SBF_FTX) December 9, 2022
Furthermore, he reiterated his apologies, explaining that he considered himself a model CEO until then :
“I thought of myself as a model CEO, who wouldn’t get lazy or disconnected. Which made it even more destructive when I did. I am sorry. I hope people can learn from the difference between who I was and who I could have been. »
Concerning Maxine Waters, the president of the Committee, the latter had to raise her voice in the face of SBF’s hesitation to come and introduce herself. She also contradicted what had been said by CNBC, saying that if the ex-CEO of FTX refused the invitation, the latter would turn into a subpoena :
Lies are circulating @CNBC that I am not willing to subpoena @SBF_FTX. He has been requested to testify at the December 13th hearing. A subpoena is definitely on the table. Stay tuned.
— Maxine Waters (@RepMaxineWaters) December 8, 2022
So it is indeed next Tuesday that a first hearing will take place. This will undoubtedly be followed by new hearings, whether also by the United States Chamber or various legal institutions seeking to understand what happened, and what measures should be taken. for it.
👉 Read also – FTX: Sam Bankman-Fried hires Ghislaine Maxwell’s lawyer to defend himself
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Source: The Stanford Daily
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
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