Cryptocurrencies: Sam Bankman-Fried Says He ‘Deeply Regrets’ FTX Bankruptcy

Published: 12.01.2022 – 13:56

Sam Bankman-Fried does his fault. The former head of cryptocurrency exchange FTX has given his first public interview since his company filed for bankruptcy less than a month ago. He said he “deeply regrets” this bankruptcy.

From now on, Sam Bankman-Fried plays the card of error and remorse. During this two-duplex video interview from the Bahamas, where FTX is headquartered and where Sam Bankman-Freed still resides, the 30-year-old suggests: “I’ve obviously made a lot of mistakes that I’d give for anything to have an opportunity to correct them today. .”. Then: “I was the managing director of FTX, which means that no matter what happened, I had a duty to protect the interests of shareholders and clients,” the former manager still says, answering questions on December 1 as part of the New York Times.

Site vision

Sam Bankman-Fried, who looked dazed and seemed to have only a partial understanding of the underside of FTX’s failure, admitted that much of what he did was a “distraction” that kept him from the risk management issue. On the other hand, the former head of the cryptocurrency platform denied his scam.

Didn’t “try to mix the funds”

The man is suspected of using funds deposited by customers on the platform to conduct speculative financial transactions with his other company, Alameda Research. The fallen boss scored without “trying to mix the funds”.

►Also Read: Stronger Regulation of Cryptocurrencies Needed After FTX Bankruptcy

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