Billions in investors' funds seemingly vanished overnight.
“I was the CEO of FTX.
He has denied any criminal wrongdoing or intent.
The US Department of Justice and other agencies are investigating allegations of fraud and mishandling of funds by FTX.
Bankman-Fried has denied committing fraud or purposely misusing customer money.
Bankman-Fried had agreed to testify on Tuesday to the US House Financial Services Committee.
The hearing went on without him.
At Tuesday’s hearing, the new CEO of FTX John Ray spoke instead.
He called the FTX collapse “plain, old embezzlement.”
