Sam Bankman-Fried, Founder of Cryptocurrency Platform FTX: “I Never Attempted to Commit Fraud”

The former CEO of this “stock exchange” confirms that in the Bahamas he has only one credit card with a debt of $ 100,000

US courts estimate that the platform owes about $3.1 billion to the 50 largest investors.

In the crisis rocking the crypto world, there are already apt names that shine in their own light and will be necessary to explain the current turmoil when we have more perspective. one of Sam Bankham FryeDr He has found his own niche. The founder and former head of FTX said in an interview published this morning by The New York Times and compiled by the BBC that “I have never tried to commit fraud” He denied that he had money outside his activity in this company dedicated to trading cryptocurrencies.

When asked about his relationship with the Bahamas, he confirmed that he only had one credit card with her A debt of about $100,000. Asked about the movements of funds in FTX and other entities, some of which are owned by Bankham itself such as Alameda Research, he provided partial details. In this sense, it has defended that the company has agreed to invest in companies whose advertising environmental projects have drawn attention.

Anyway, the founder of FTX admitted it Underestimate the amount required to cover customer withdrawals in this type of exchange. It so happens that Bankman has on several occasions been considered the millennial version of the legendary Warren Buffet, and at the end of October, his earnings were estimated to be over $1,500 million.

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FTX declared bankruptcy in early November and Bankman-Fried stepped down as CEO on November 11. The courts have determined that FTX owes its first 50 large clients approximately $3.1 billion. In any case, Bankman added that he is not concerned about potential criminal and civil prosecution. It’s a moment to think about myself and my future. He pointed out during his interview with the “New York Times”. In any case, he defended the correctness of his answers, although no substantiating material was provided about the solvency of FTX and the possibility of meeting the requests of its investors.

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