"The arrest came as Bankman-Fried prepared to lash out at his former lawyers at Sullivan and Cromwell, new FTX CEO John Ray and rival exchange operator Binance at a U.S. Congressional hearing.

In the testimony, a draft copy of which was seen by Reuters, Bankman-Fried planned to say he was pressured by Sullivan and Cromwell lawyers to nominate Ray as CEO following the sudden exodus of customer funds. And when within minutes he changed his mind, following an offer of billions of dollars of fresh funding, he was told it was too late.

It is unclear, however, whether Bankman-Fried will get to testify."

https://www.cbc.ca/news/business/ftx-bankman-fried-arrested-...

https://www.forbes.com/sites/stevenehrlich/2022/12/13/exclus...

To read the transcript as a PDF:

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