Rep Maxine Waters Responds To Critics, Says A Subpoena For SBF Is ‘On The Table.’
Waters says the Financial Services Committee is willing to subpoena SBF, but the crypto community remains dissatisfied with the response.
Rep Maxine Waters, the chairperson of the US House Committee on Financial Services, has made an effort to debunk claims that she is unwilling to subpoena former FTX CEO Sam Bankman-Fried, tweeting today that “a subpoena is definitely on the table.”
It comes in response to criticism and reports of what many in the crypto community described as a “polite” request to SBF to appear before Congress on the 13th despite accusations of fraud and stealing 10 billion in customer funds. A request SBF turned down. Notably, Attorney Jeremy Hogan of Hogan & Hogan pointed out that it made no sense for the lawmaker to take to Twitter to make a polite request when it is within her power to subpoena the crypto founder.
“You, as the Chairwoman (or the Committee itself), can just subpoena him to testify,” tweeted Hogan at the time. “No need to ask nicely on Twitter. It’s House Rule XI clause 2(m). But I’m sure you already knew that.”
Today, Waters says reports claiming she is unwilling to subpoena the former FTX chief are false.
“Lies are circulating CNBC that I am not willing to subpoena SBF_FTX.”
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
It bears mentioning that Waters has said that the crypto founder has no excuse to miss the hearing despite declining her request, as reported by The Crypto Basic. Notably, despite refusing to appear before Congress, SBF has gone on several interviews in recent weeks following the FTX collapse.
The Crypto Community Remains Puzzled By The Lack Of A Strong Response From Congress
It is worth noting that the latest statement from the House Committee chair has done little to satisfy members of the crypto community who remain puzzled by the perceived “soft” treatment of the former FTX chief by Waters and the Financial Services Committee.
Autism Capital (@AutismCapital), a citizen journalism Twitter account, described Waters’ latest statements as backpedaling.
Meanwhile, financial adviser Douglas A. Boneparth questioned why it was so difficult for lawmakers and the media to take a hard stance on SBF and the FTX collapse.
“The people want our leaders and the media to take a hard stance on this,” Boneparth tweeted. “Why is that so hard?”
Meanwhile, a user in now-deleted tweets sought to draw attention to suspected links between SBF and the Congresswoman, highlighting Waters’ visit to the Bahamas around the time of FTX gaining approval in the island country. In addition, he highlighted the fact that Sid Williams, husband to Waters, was once an ambassador to the Bahamas.
With Congress yet to issue a subpoena, narratives like these deepen as pictures and videos of the Congresswoman and SBF spin heads on Twitter.
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