Sam Bankman-Fried In First Live Interview At DealBook Summit

In the first live interview at DealBook Summit, Sam Bankman-Fried defended himself against claims of fraud since the cryptocurrency exchange, FTX failed earlier this month.

According to the first live interview at the New York Times Dealbook Summit, former FTX CEO Sam Bankman-Fried ( SBF), stated that he didn’t even try to commit fraud on anyone, and he was excited about the prospects of FTX.

I saw it as a thriving, growing business. I was shocked by what happened this month. And, reconstructing it, there are things that I wish I had done differently.

Sam Bankman-Fried in the interview

One of the main allegations against SBF is that he used client funds from his cryptocurrency exchange to fund risky bets by his trading firm, Alameda Research. In this regard, SBF admitted that he “made a lot of mistakes” as CEO, but he denied using FTX funds in Alameda.

“I didn’t knowingly commingle funds,”

Sam Bankman-Fried said in the interview

After then, SBF distanced himself from Alameda in the interview. He took pains not to mention Caroline Ellison, the former chief executive of Alameda Research, by name. Additionally, SBF claimed he was unaware of the extent of the relationship between FTX and Alameda Research, as well as the number of funds transferred between the exchange and trading house.

I wasn’t running Alameda, I don’t know exactly what was going on. I was nervous because of the conflict of interest of being too involved.

Sam Bankman-Fried said in the interview

Besides, SBF said that he was still able to sleep despite the collapse of FTX and millions of dollars in losses for investors, and argued that customers could be made “fully whole” but He didn’t offer an explanation as to how.

Find out more information about Sam Bankman-fried Trial Live Update at Coincu.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

Coincu News