Watch FTX CEO's Entire Testimony to Congress in December 2021

In December 2021, Congress held a hearing, titled, Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States. At the hearing was former CEO Sam Bankman-Fried. Watch his complete testimony in this video.
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[@AndriSalim]

He sounds and looks like a good guy. Hope he has a long life, about 115 years old.

[@jegjg001]

This just goes to show how people can seem eloquent in speech and serpents in their soul

[@grandy]

eloquent? he's a horrible public speaker....if he says ammm 1 more time I'm throwing away the phone

[@jgordon7719]

I'm quite certain that most of these narcissists also say the things that they say to make themselves feel more comfortable in the face of scrutiny

[@countryfactorconferences770]

well said , serpents in the souls

[@liamchase7537]

Nothing about his speaking is eloquent... anyone who bought his guise is a sucker...

[@gustavoabanto3486]

He sounds like a stereotypical moneygrabbin Jewfro person, lmao

[@denizc3318]

"We've never had customer losses, clawbacks or anything like that"...This didn't age well

[@pat777b]

Even before the collapse, that statement was kind of ridiculous. FTX was a very young company back then so of course it's easier to have a clean history while young. 1-3 years of nothing happening does not prove that nothing will ever happen. I'd want at least a decade of nothing funny happening to feel good about a financial institution. But even if they had that, there were still fraudsters like Madoff who got away with it for well over a decade. IMO, you just always have to be alert.

[@isaacbarrow9155]

What a fine, upstanding young man! Looking forward to what he accomplishes in the future!

[@justatiger6268]

What I found most convincing by this lovely young man was his trustworthyness

[@oldman1220]

😂😂😂😂😂😂

[@CheeseSqueezer]

Lol. Hilarious.

[@maxqazwsxedc-h4w]

of course, he'll scam more once out of jail

[@gregvinson1]

I predict future success in the commissary exchange he will start in prison. No doubt this guy will corner market on ramen noodles, skittles,, and t-shirts.

[@senyongaeric1948]

His confidence here is shocking.. in hind sight he is very very knowledgeable of what his company is doing and will do.. and now he is pleading lack of knowledge

[@CalvinK300]

I disagree. At 1:40, he described global payment fees and money transfer charges as exorbitant, takes weeks to effect and vulnerable to scamming middle men. That is clearly incorrect. Confidence and eloquence have tricked you.

[@nygeek6471]

It’s the amphetamines. Drug addiction treatment is one of the conditions of his bail. I’m surprised O’Leary couldn’t smell the meth breath but something tells me O’Leary was in on it.

[@justatiger6268]

Note that his competitor, CZ who runs Binance, would never had been greeted like this. Unlike this Harvard-born white kid, a Chinese dude would be shunned. SBF knew how to play the political game and if it weren't for the crypto winter, he likely would have succeeded.

[@CalvinK300]

@@justatiger6268 in my opinion, SBF has succeeded. His business is a Ponzi scheme anyway and there is no way it can avoid discovery forever. Just like Bernie Madoff, eventually he will be caught. However, I deemed people like SBF, Madoff as successful because their success is in conning people’s money and not avoiding getting caught.

[@cms1368]

@@justatiger6268 he is more articulate and presentable....

[@mimih23]

He seems to know how his business runs during this testimony. 🤷🏾‍♀️🤷🏾‍♀️

[@WeinBergSteinWitz]

Haha

[@whateva8964]

Wow - everything he said about risk and what they were doing to mitigate it, segregating his customer funds, and what he said they were not doing so that they were not like the 2008 collapse was a complete lie. "Robust risk engines"?!? Unreal. What a liar, hiding behind industry "speak". He deserves all the prison time he gets.

[@gatormcklusky5850]

Amazing how Sam can speak so clearly, So on Top of the way thing's are laid out So goodie good Yet today we hear from a far different man much stuttering much not knowing how the business was ran not knowing so much one could almost think these are two different people but their not this is the same guy that took you & others for every dime you had trusted him with. Do you believe the lie's? No, I don't, no chance, this dude took it cut and ran & now he plays dumb dumb..

[@RoughTake]

No one was considering, or asking about an insider threat. He held all the keys without any restrictions or oversight. Who could have saw this coming.

[@oldman1220]

His girl Wednesday

[@paulalwayslearning8573]

We have a transparent system, yup he actually proclaimed that to the congressional committee, whilst trying to further restrict oversight. What a piece of work.

[@steealsfreek]

Why does it seem like this testimony sounds more like regulators asking this scam artist about how to design their future systems, instead of calling out the actual scam, as it's now widely known?

[@Aliscarchive]

because this was a year ago when it wasn’t widely known

[@JohnnyRotten75]

The woman who took donations from him is on the council, how crooked is that?

[@marksherrill9337]

Good point. Sounds like conflict of interest.

[@JohnnyRotten75]

@@marksherrill9337 it’s absolutely onsite, the people don’t realize half of the corruption, then you ask to se the books and there is no accounting or tracking of any expenses

[@debrasellitti3006]

That blows my mind as an accountant. Always, always ask for a full set of audited financials. The people who hocked this scam you would think they would be sophisticated enough to ask. C’mon. That’s a first principal of investing! They would have seen that the books were cooked. Oh right- no books were kept. Easy come, easy go.

[@ChezGonzales99]

@@debrasellitti3006 As an account, whats one piece of advice you would give to the average joe concerning money through your knowledge and experience?

[@KwamePlato]

Never seen a man more honest and noble in my life! His prison mates will treat him very well.

[@cateelisabethlsn6400]

He's like telling a fairy tale story to a bunch of dinosaurs 🦕

[@haniotis3421]

And you probably voted for some of those dinosaurs. The joke is on you hahahaha

[@FunTimeStudios82]

True

[@Pleiadian618]

Literally you can tell he is like speaking Chinese to them & they are holding on by a thread attempting to grasp the basic concepts of Anything he is saying

[@haniotis3421]

@@Pleiadian618 And to think those idiots decide what to do with our hard-earned money.

[@ISBE91]

@@haniotis3421 If they werent “idiots”, they wouldnt be sitting there, no hard feelings here, its just there are financially better opportunities for those with more knowledge

[@tammycornejo9155]

He's talking to the people he gave all of FTX money to.. OMG

[@heavyhookedup]

I just realised something that if people talk and they repeat "YOU KNOW" in every sentence they are actually saying that to themselves unconsciously

[@antoniovittorio4686]

"MY GOAL IS TO HAVE A POSITIVE IMPACT ON THE WORLD, TO MAXIMIZE THAT AND TO DO SO BY SUPPORTING SOME REALLY FANTASTIC ORGANIZATIONS". What a beautiful introduction to a testimony before the Congress. The whole speech of SBF before the Congress let him really appear as a BENEFACTOR, a LAW ENFORCER and an advocate especially for TRANSPARENCY and REGULATION. As many philosophers and poets said, a man can truly be known only through his ACTIONS never through his SPEECH. But we often forget these sayings especially when we are addressed by billionaires backed by politicians.

[@brayanledezma4835]

He’s a smart man .. made billions being smart is hard too

[@BIG-uz8vi]

This is all part of the Totalitarian tiptoe Icke had spoken about forever now. This puppet here FRIED put in place to squander Billions of peoples funds I'm order for your GOVT also owned and controlled to USHER in the digital world they want and to tell everyone " LOOK WHAT HAPPENS when the GOVT isn't controlling DIGITAL assets" . They want full control and this is what's coming..

[@johnroe3915]

@@brayanledezma4835 while also being a crook.

[@PungiFungi]

yes, actions are louder than words.

[@oldman1220]

Bidens golden boy he'll be a Trillionaire one day.🤮🤮🤮🤮🤮🤮🐂💩

[@mryee5540]

All of those licenses and none required verifying what he was doing with customer funds.

[@shadowbanned4days]

PRISON.. stop wasting our tax money

[@anonymoushippopotamus3862]

This is purely a joke. 40 mill obviously goes along way. SBF is such a narcistic individual gleaming so he was as he smirked his way through a poorly veiled shallow, false attempt of sincerity and concern for the people his crime syndicate family stole from.

[@jdubbleu1011]

This aged well Particularly the risk management stuff

[@tomspeed3354]

like a red wine 😂

[@AdamSno]

Yeah it makes him even more creepy realizing how smart he can present himself but subconsciously knowing that he is scamming the system, stealing millions, and lying to everybody about it... even going to Congress! The dude has balls, you gotta give him that...

[@Cazador60140]

Dears Arss Hole SBF most of the people who are sitting in the room where you have higher academic levels than a pea brain like you could ever fathom and it will be hard to sell them your salad of acronyms and lies . Your parents must have known from the moment you came in this world that you would be a narcissistic manipulator of the first order and they must have known ... Would it be possible that you convince the both of them to go to prison with you for 100 years Mr Consultant who mae a mistake

[@nudetaynehatwobble]

You both made me laugh

[@solidfuel0]

How come none of them spot the problems, only the woman online noticed something is off

[@B-ROCK5150]

So this 30 yr old who talks like a 4 yr old laundered billions for the same people with whom are asking him questions. Handing billions of our own tax money back thru FTX ..What a complete clown 🤡 show.. shouldn’t the politicians be on trial as well???

[@gatormcklusky5850]

they all should be on the firing line.

[@jbt8922]

He just admitted what he was doing at 2:10

[@stephaniehale946]

*What a fine, educated, humble, articulate, honest, trustworthy, down-to-earth, and good looking gentleman. Such a rare combination. I am sure he will go to places.*

[@lelandfranklin3487]

He is....prison

[@bfg1836]

And it was all a word salad of lies that none of them even understood.

[@Jtl3III]

Shouldn’t there be a disclosure if FTX or members of FTX donated money to any of the campaigns or PACs that supported campaigns of any of these members of Congress asking questions in this hearing? I am not sure if they have or not. But I think if they have or haven’t should’ve been disclosed during hearing.

[@MrMaxmohr]

Lies, lies and more lies.

[@acebenedict9945]

his voice is exactly how I'd expect it to sound by how he looks

[@Bkamron]

SBF: "My take on the 08 financial crisis - I watched The Big Short Too."

[@ghitam6]

Thru bank people's pay a lot of fee, so i cannot steal their money, by FTX cripto customers money is my money.

[@tiagoscherer1158]

Have you ever heard of Wise ? I use it every single month. The money gets home in about 2 working days and the fees are quite low.

[@NFWorld23]

He is very knowledgeable, confidence with clarity.

[@nicholaswoolfenden5254]

Moronic statement about a common criminal

[@jooblet1975]

ur homie will love butte sax

[@EIonsMusk]

He does a good job painting himself as a disorganized idiot, but watching him so clearly describe, with such knowledge, the intricacies of his company... dudes a snake in the grass lol

[@sirshep4915]

Well said

[@Xyz-sk7b32]

Crazy, you can really never trust anyone.

[@KKOPPONG]

We can if we stop ignoring red flags 🤷🏿‍♂️.

[@Cazador60140]

In Gensler we Trust

[@-13eNnY-]

At least he's sticking to the act that he did nothing wrong. Just happened to misplaced ~$10 billion.

[@CrosbyStill]

How do these folks run the country if they are so easily fool by such????

[@riokriok2863]

and above that he gives advice to the politicians

[@Cazador60140]

Consultant to the US Secretary of the Treasury

[@noahfarrell7082]

This aged well

[@gwquinn8398]

At 8:20, did he seriously argue that an advantage of FTX is transparency of transactions, which wasn't present during the 2008 banking crises?

[@crumplezone1]

The only lives he improved was his own and his mom and dad, what a crook

[@arupsan]

You get the word right “ creating positive impact to the world and maximising it “. Yeah he did it with full conviction , with the knowledge of MIT physics… in Jail let’s see how quantitative theory works ..

[@realericsmith]

He went from being called the J.P. Morgan of crypto, to the Charles Ponzi of crypto. How the mighty have fallen.

[@philipcarter4532]

You can see how he fooled those who think cryptocurrencies are a good investment. He's got the whole of Congress spellbound and addressing him as a crypto guru. Of course, millions of dollars in donations to politicians helped a lot.

[@charlessmyth]

What a difference a year later makes :-)

[@nickstrapko7549]

Really !!

[@oldhickory42]

This aged well. Haha

[@thisgameisover]

Perjury: 4:19 - Risk Controls

[@Cazador60140]

The Risk Steam Engine works 24/7

[@goneviral8814]

So when will these congress people Audit the Federal Reserve???

[@jbac5767]

Old video. Posted to maybe make folks think this is new footage. Look at his interviews POST FTX Collapse and re watch this. The Wolf in Sheep's clothing will be fully revealed then.

[@ericversteege1810]

Can you put a link to this interview?

[@gabegood8989]

not sure how you would think it's new footage when the title says 2021... also knowing he was arrested a year later in 2022 just before he was to testify again

[@rlg222]

If this isn’t fraud, I don’t know what it would be

[@silentype3008]

🤦‍♂He's really going to try to foist the blame onto Alameda Research. I do believe he'll see prison time by the end of this ordeal.

[@PhongNguyen-tz4gy]

Life in prison for him

[@Cazador60140]

1 Leg in prison #1, other leg in prison #2 ......

[@kentvonseverin1257]

The beyond horrendous decor of his "$30m apartment" in the Bahamas should have tipped everyone off years ago...

[@mclainekeari5787]

Just how slick a conman can be..

[@ANDYANDREWPro]

Wow, this guy is spot on. I am just now interested in getting into crypto. I’M IN! 👍😃

[@venerable_nelson]

Buy low, sell high!

[@carlosandzs]

Everything he said sounds so good..back then... in hindsight.

[@riokriok2863]

Keep your money those cryptocurrency are crooks you will find out soon

[@WeinBergSteinWitz]

*me running to grab you in slo-mo* No!!!!!!!!!!!!!!!!!!!!!

[@oldman1220]

Loser 🤣🤣🤣🤣🤣🤣

[@rogerchanda]

Contrast this with the interview where he was feigning mental challenges once things went south

[@jeffcunningham7372]

look forward to hearing from the other Sam if he ever sails back our way, thrown SBF to the lions before hightailing it

[@jacobvandijk2184]

"complete transparency" did not age well.

[@andrewleventis8341]

Bubba will be doing a special type of Crypto to him when he hits the big house

[@drt2854]

He really brought up embezzlement in his opening statement lol guys way out of touch with how much trouble he is in

[@mgray1609]

This is 2021.

[@drt2854]

@@mgray1609 what? This isn’t the most recent FTXscandal?

[@jessfulbright9015]

You can always count on Congress for a good laugh.

[@Cazador60140]

He should be wired one to his genitals and one to his head: 1 lie 1 ZZap , 2 lies 2 Zaps , 3 lies 3 Zaps...

[@peggythibodeaux1519]

Everything he said, he was carrying it out at FTC

[@488ferc4]

Obviously a smart, accomplished young man with what seemed like an honest idea…initially….however, money changes MANY of us. I changed once I made millions and realized I was becoming a bit arrogant so had to change course and be genuine again. He knowingly did corrupt things but sometimes the ultra intelligent ones think they can get away with it

[@FizzleFX]

"I didn't know a thing~ I couldn't have~ but I did give my parents millions and~ oh wait I was supposed to lie about this part!"

[@sosimonferland1137]

He was given the wrong questions, they love him, the only question is where is the money

[@Shieldsofshame]

Real slick.. real sick!

[@edgehodl4832]

amzing ceo, i opened ftx accoint and deposited all my life saving in there, lets make some money!!

[@bb8luke221]

Wow, very promising. how to open an account with FTX?

[@JosephusPremkumar]

"We have a transparent system", but no one knows where Billions of dollars went.

[@franciscody9622]

This did not age well. Will he do it again wearing and orange suit?

[@FuzzyGreyPenguin]

". . . Someone who can be extradicted if they do something criminal" . . .

[@WeinBergSteinWitz]

Wow, Mr Bankman-Fried seems like a very respectable and articulate young man, I think I’ll invest!!

[@oldman1220]

🤣🤣🤣🤣 you lose

[@488ferc4]

Got you and many others fooled

[@FunTimeStudios82]

Why does he have a perm?

[@grandy]

his responses r so vague

[@peggythibodeaux1519]

No one can crack our system but me😂

[@Cazador60140]

Thank you for the question, now I will serve you a word salad

[@pungkoy75]

Seems knowledgeable about crypto 🤔 but when ask what happened to billions of customers money the knowledge dissappear

[@Diblonzaw]

WHO IS SHE ???

[@julianyc422]

Everything he is saying is complete bull pucky.

[@SenangBit]

Give this man “Best Actor Awards”! Banks are bad, and he was there to fix stuff…

[@lizh4933]

He sleeps on a bean bag, bangs a really ugly woman and drives an egg beater old Toyota. The clapping seals just thought this guy was real cooooool.

[@scottgreen132]

He really seems to know a lot about his business.

[@carsondwayne]

It's almost as if it's *his* business

[@jeepmap1]

his master is: Elisabeth Holmes

[@Steenogreeno]

Goes from one water bottle to four. It appears opened bags of candy? What is going on here.

[@curt2079]

Is Sam's last name really......BANK MAN FRIED ?!

[@Pleiadian618]

Now your asking the right questions. How ironic huh...

[@CrosbyStill]

The economic impact ? Before everyone got fool or after sir??? I think I better tell u the one before...

[@mohn.shenas9171]

These illiterate judges cannot question SBF.

[@melborja5152]

so where is the money now?

[@cateelisabethlsn6400]

And who organized this hearing. SbF himself 🤮

[@quantumcomata105]

Mr foster got it right

[@CrosbyStill]

Will he says "Its an honor to be here " this time round???

[@Cazador60140]

He just wanted harmonious relation with the SEC , who would not

[@Basstroutfishing]

It’s almost as if he is pulling out this information from his backside.

[@billionairebrainsurgeon9024]

What a tongue bath they're giving this criminal.

[@nobodytonobodysbusiness]

Lol. There is no Stanford California. He grew up in Palo Alto.

[@ImCallingFromSpringfield]

Saying all the right things meanwhile misusing and stealing his customers funds

[@nameinaframeindy]

He was completely lying about everything lol.

[@KingKinko5]

May he sit in jail minimum of 50 years

[@grandy]

"a 24hr risk engine" 🤣😂

[@anteb.k.8396]

I tbought this was new xD I couldn't believe the regulation and transparency claims hahah

[@10ozGold]

How much helium was inhaled to sound like this

[@benjamin-collie]

I'd rather be skint and live in a box then live the life he has and the things he has done

[@gerald216]

I gave nothing, I don't want regulation. I thought regulation on schemes would be great, but honestly I agree with the idea that regulation on crypto would make it equal to any fiat currency