In carving out his crypto fiefdom, Sam Bankman-Fried focused much of his attention on Washington D.C., donating tens of millions of dollars to campaigns and frequently flying from his home in the Bahamas to the capital to meet with lawmakers about his vision for a regulated industry.
Bankman-Fried is scheduled to make his (likely virtual) homecoming to Washington on Tuesday, where he’s said he will testify at a House Financial Services Committee hearing on the collapse of his exchange, FTX. After several years of serving as the face of the crypto’s regulatory efforts, Bankman-Fried will find a much chillier environment after revelations that he directed customer funds to his trading firm, Alameda Research, losing billions of dollars in the process.
