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CNBC: U.S. Fed chair's term ending, reluctant to subpoena SBF at hearing, chair clarifies hastily

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CNBC: U.S. Fed chair

Unable to withstand media reports and public opinion pressure, the chairman of the House Financial Services Committee in the United States once again emphasized that he has requested SBF to attend the hearing on 12/13, and the subpoena is already in progress. In addition, the FTX team has hired the financial consulting company AlixPartners to conduct a forensic investigation on the assets hacked during the FTX incident.

Delay Tactics? Maxine's Term Only Until 1/3

What drew criticism to Financial Services Committee Chair Maxine Waters was her tweet on 12/2, in which she almost casually invited SBF to attend a hearing, sparking intense backlash.

SBF, thank you for openly discussing the FTX incident. Your willingness to engage with the public will be helpful to users, investors, and others. We welcome you to our hearing on the 13th.

Perhaps even more infuriating to the community was SBF's response to Maxine Waters, stating that he would not attend because the time was not right.

Urgent Clarification

Initially only covered by crypto media, it wasn't until CNBC's report on 12/7 titled "House Financial Services Chair Maxine Waters doesn't plan to subpoena SBF to testify at hearing", which included SBF's past donations to the Democratic Party, that Maxine Waters clarified her stance.

She stated:

CNBC's claim that I am unwilling to subpoena SBF is false. He has been asked to attend the hearing on 12/13, and the subpoena is under discussion. Please stay tuned for updates.

CNBC cited sources familiar with the matter saying that Maxine Waters indicated in a private meeting with the SEC Chair that there were no plans to subpoena SBF.

With the Republicans gaining a majority in the House after 1/3 next year, the decision on whether to subpoena SBF may fall to potential chair Patrick McHenry.

This is also seen as the reason for Maxine Waters' refusal to subpoena, as her term is coming to an end.

Audit of Hacked Assets

Another report from The Wall Street Journal indicated that FTX's new management team has hired consulting firm AlixPartners' forensic investigation team to trace the billions of dollars hacked from FTX.

The AlixPartners team, led by former SEC Enforcement Division accountant Matt Jacques, will not only track the hacked assets but also assist the new team with other restructuring efforts.