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01-12-2022, 09:09 PM
Former FTX CEO Sam Bankman-Fried, in possibly the understatement of 2022, said Wednesday, “I’ve had a bad month.”
The former billionaire added that he “didn’t do a good job” at upholding his responsibilities to regulators, customers and investors in a hotly anticipated conversation with CNBC’s Andrew Ross Sorkin at the DealBook Summit.
Bankman-Fried’s FTX imploded in mid-November after Coindesk reported irregularities on the company’s balance sheets. FTX filed for Chapter 11 bankruptcy protection in Delaware on Nov. 11.
“I didn’t ever try to commit fraud on anyone,” Bankman-Fried said. “I saw it as a thriving business and I was shocked by what happened this month.”
The political megadonor said he was down to $100,000 and had one working credit card left.
“We completely failed on risk,” Bankman-Fried continued. “That feels pretty embarrassing, in retrospect.”
A lot more at https://shrtco.de/QKbv8d
The former billionaire added that he “didn’t do a good job” at upholding his responsibilities to regulators, customers and investors in a hotly anticipated conversation with CNBC’s Andrew Ross Sorkin at the DealBook Summit.
Bankman-Fried’s FTX imploded in mid-November after Coindesk reported irregularities on the company’s balance sheets. FTX filed for Chapter 11 bankruptcy protection in Delaware on Nov. 11.
“I didn’t ever try to commit fraud on anyone,” Bankman-Fried said. “I saw it as a thriving business and I was shocked by what happened this month.”
The political megadonor said he was down to $100,000 and had one working credit card left.
“We completely failed on risk,” Bankman-Fried continued. “That feels pretty embarrassing, in retrospect.”
A lot more at https://shrtco.de/QKbv8d
