SBF Plans To Launch A New Business To Pay Out FTX Victims

According to the BBC, former FTX CEO Sam Bankman-Fried (SBF) stated in an interview in his Bahamas house that he expects to launch a new business to earn enough money to repay FTX victims.

“I will consider how we can serve the world, and if users don’t get anything in return, I will consider what I can do for them,” SBF stated. At the very least, I believe I owe it to FTX users to do the right thing to the best of my ability. “I would give anything to do it,” he stated when asked whether he planned to launch a new firm to earn money to reward investors. “I’d try if I could.”

In response to charges that Alameda Research used FTX client funds for high-risk financial investments, a former senior FTX employee indicated that the SBF must have been aware that Alameda Research was using FTX customer funds. SBF, on the other hand, said, “That’s not true.” He admitted that he was ultimately liable for any mismanagement of funds as CEO. 

When asked if he was dishonest or inept, he responded, “I didn’t willfully cheat, I don’t think I did, and I don’t want that to happen.” “I’m obviously less capable than I believe.”

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