While Sam Bankman-Fried’s (SBF) parents were both teaching at Stanford, the Californian university has informed that this is no longer the case for the moment. For his part, SBF will indeed testify on 13 December before the US House Committee, explaining in the process that he considered himself a model CEO.
Sam Bankman-Fried’s parents no longer teach at Stanford
The consequences of Sam Bankman-Fried’s (SBF) actions are now spilling over to his parents, who used to teach at the famous Stanford University in California. The university revealed earlier this week that Joseph Bankman, SBF’s father, had cancelled the only course he was supposed to teach.
The course in question was supposed to be on tax policy. Ironically, however, in the midst of the crisis, it was revealed that a house in the Bahamas worth $16.4 million was registered to SBF’s parents, even though it was used by FTX employees.
For her part, Barbara Fried, his mother, is not assigned to any courses for the coming quarter. However, she claimed that this had been planned for some time and had “nothing to do with anything else that is going on”. On the other hand, it is not excluded that she will teach at the university again in the future.
SBF to testify on 13 December
As for Sam Bankman-Fried himself, while he was “unsure” whether he would be able to testify before the US House Committee, he will finally go to the December 13 hearing. On the other hand, SBF once again gave answers that seem out of step with the seriousness of the situation, explaining that it “still does not have access to much 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
In addition, he reiterated an apology, explaining that he had previously considered himself a model CEO:
I saw myself as a model CEO, who would not become lazy or disconnected. Which made it even more destructive when I did. I’m sorry. I hope people can learn from the difference between who I was and who I could have been. “
With regard to Maxine Waters, the Chair of the Committee, she had to raise her voice at SBF’s hesitation to come forward. She contradicted what CNBC had said, saying that if the former FTX CEO refused the invitation, it would become 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
A first hearing will therefore take place next Tuesday. This will undoubtedly be followed by further hearings, whether by the United States House or by various legal institutions seeking to understand what happened and what measures should be taken to address it.
