House Financial Services Chair Waters doesn't plan to subpoena Sam Bankman-Fried to testify at hearing on FTX collapse - CNBC

House Financial Services Committee Chairwoman Maxine Waters told Democrats she doesn't plan to subpoena former FTX CEO Sam Bankman-Fried to testify at Tuesday's hearing about the crypto exchange's rapid demise, according to people with direct knowledge of the conversation.

Those at the meeting say Waters said she wants committee staff try to convince Bankman-Fried to voluntarily testify, those with knowledge of the meeting said.

As of late Wednesday, Bankman-Fried has yet to agree to voluntarily testify to the House committee, two of the people explained.

Patrick McHenry, R-N.C., the panel's top Republican and likely next chairman, to decide whether to subpoena Bankman-Fried in the next congressional session if the FTX founder declines to voluntarily testify under oath next week.

Waters invited Bankman-Fried to voluntarily testify before the panel and could always change her mind and subpoena him before Tuesday.