Just sharing a few memorable excerpts below. Full testimony here.
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b) In addition to being false, the claims do not make sense to me. Alameda Research’s own insolvency was triggered by a market crash, which in turn triggered FTX’s insolvency; it would have been absurd to create a market crash in order to take out 3AC, and then in turn bankrupt my own businesses.
7) Various claims that I created a hard-partying culture at FTX
a) Our ‘parties’ were mostly dinner and board games
b) I didn’t have my first drink until I was 21, and to my knowledge have never been drunk
b) I have a prescription for Emsam, and have for roughly a decade. I use it, daily, for its only on-label use as an antidepressant. It is not generally the case that people are expected to talk about their private medical conditions, but enough paparazzi have snapped photos of my belongings and theorized about it online that I guess I have no choice.
On Twitter, CZ claimed that “we decided to pull out as an investor” in a thread chalk full of lies.
a) In fact, I reached out to CZ in 2021 to initiate discussions about buying them out of their stake in FTX.
b) I initiated these discussions because, among other things, it was becoming increasingly difficult for FTX to operate with CZ as a significant equity owner. CZ was not cooperative in sending his KYC information to regulators that we were applying for licenses with.
c) The last few months have been difficult enough for everyone that it feels unremarkable to me, in comparison, that I need to put on the official Congressional Record that I am, and for most of my adult life have been, sad.