Crypto Weekly: SBF can't stop talking
STORY: From Sam Bankman-Fried getting ready to face the music, to why Goldman Sachs is on a crypto bargain hunt, this is your roundup of the week’s big stories in the world of virtual money.
FTX founder Sam Bankman-Fried says he will testify before the House Financial Services Committee.
It’s due to hold a hearing this month.
Before that, SBF says he just has to finish “learning and reviewing” the events that toppled his crypto exchange.
He spent the past week telling the media that he never set out to do fraud.
The former crypto mogul blamed catastrophic management and accounting failures instead.
Goldman Sachs thinks it spies opportunity in the chaos.
The bank told Reuters it’s hunting for affordable crypto firms to buy or invest in.
It says the FTX fiasco has heightened the need for reputable players in the market.
Goldman reckons it’s found several opportunities at good prices, but won’t give details.
Lawyers are among the winners too.
Experts say law firms can rake in more than $100 million in fees during a major bankruptcy case.
U.S. attorneys Kirkland & Ellis are one to cash in.
They are representing BlockFi, Celsius Network and Voyager Digital - which all collapsed.
Each such case generates fees of of over $3 million per month.
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