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Sam Bankman-Fried to speak on FTX collapse, his financial situation, crypto

Yahoo Finance Live’s Brad Smith discusses the expectations for Sam Bankman-Fried’s first public appearance.

Video transcript

[AUDIO LOGO]

BRAD SMITH: Also, everyone, we're tracking Sam Bankman-Fried, also known as FBF-- SBF, excuse me. He has been on an apology tour, indeed, in the past few days over the collapse of his crypto exchange FTX and the ripple effects it had on the crypto industry. In multiple interviews, he explained his take on FTX's past financial situation and shared details on what's currently left in his bank account. SBF is expected to take the stage at New York Times's DealBook Summit later this afternoon in his first public event and speaking since the collapse here.

Now, viewers will be listening for any indication that he actually is remorseful for what happened, and he's expected to take an extremely measured approach as he still faces an ongoing class-action lawsuit. And of course, you've got congressional hearings that are set to commence as well. Yahoo Finance's Alexandra Semenova will be there at the DealBook event. So keep an eye on her Twitter feed for live updates. And these public statements and appearances are ahead of that Senate hearing that I mention tomorrow on the misdeeds of his organizations.

There's also a House hearing that just got scheduled. That one is not taking place until later on in December. I believe the date was December 13 on that one.