Sam Bankman-Fried Regrets Filing For Bankruptcy

In the interview with Tiffany Fong, Sam Bankman-Fried provided some context about his regrets and explanations after pausing the FTX platform and reopening withdrawals just for residents of the Bahamas, where Bankman-Fried and FTX are based.

According to the interview with Sam Bankman-fried, the former FTX CEO shared stories surrounding FTX from his point of view with Tiffany Fong.

SBF regrets filing for bankruptcy, saying If he hadn’t filed for bankruptcy, all users would have been intact. FTX US users could have gotten all of their own intact while users outside the United States could have gotten back a quarter of the total assets.

For the use of FTT as collateral, Bankman-Fried stated that it underestimated a large number of correlations between things during extreme market volatility. SBF also said that, in retrospect, he wished the firm had had a person responsible for risk management and liquidity. Besides, the former CEO of FTX again stated that FTX US was solvent for roughly over $500 million even after the hackers stole $250 million.

Regarding the claim that it set up a “secret backdoor” of code, SBF said it was not true.

I don’t even know how to code, which is an honest and embarrassing answer.

Sam Bankman-Fried said in the interview

In terms of his priority of opening withdrawals to Bahamian users, SBF stated that living in the Bahamas can help him stay away from angry people. Additionally, Bankman-Fried also shared an unrevealed story about his donation to the Democratic Party of the United States that the amount was almost the same to both the Democratic Party and the Republican Party, but the Republican Party concealed the donation.

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