Sam Bankman-Fried says “I’ve committed no fraud” and FTX US is Fully Solvent
Sam Bankman-Fried, the disgraced boy king of crypto, told a conference in New York on Wednesday that he “didn’t do a good job” at upholding his responsibilities but maintained he “didn’t ever try to commit fraud.”
The fallen crypto billionaire, who is down to $100,000, said he saw FTX “as a thriving business and I was shocked by what happened this month.” He agrees that he completely failed at risk and it now feels embarrassing.
Despite filing Chapter 11 bankruptcy on November 11th, Bankman-Fried went on to claim that FXT US was fully solvent and “withdrawals could be opened up today and everyone could be made whole from that.”
Bankman-Fried also believes that LedgerX, which was acquired by his bankrupt crypto exchange, and FTX US derivatives could “even be running right now.”
While being labeled as the villain, Bankman-Fried looks to tell his side of the story about the FTX collapse through his interview.
Crypto Exchange Kraken Cuts 1,100 Jobs as Crypto Winter Bites Harder
Cryptocurrency exchange Kraken on Wednesday, November 30th, announced…
