He added in a tweet thread that he would try to give details on FTX US's solvency and American customers, pathways that could return value to users internationally, what he thinks led to the crash and his own failings.
The Senate had demanded he testify, but had been left with a pregnant silence up until now. A letter sent by senators threatened Bankman-Fried with a congressional subpoena if he refused to cooperate. The deadline for his response was set for 5pm ET yesterday.
Since the collapse of his company, crypto mogul has given several media interviews, detailing his version of the story. However, he has refused to answer questions from the House Financial Services Committee
/saying he wants to wait until he has "finished learning and reviewing what happened" to the companies he ran and owns.
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- With Web3, users will be able to purchase goods and services without needing to use a third-party intermediary or a centralized server.
- This will mean that transactions are faster and more secure, as users will no longer need to trust a third party to process their payments
Additionally, users will be able to more easily track the progress of their orders and payments. This will help reduce fraud and make transactions more transparent.
- Web3 can also make transactions more convenient for users.