FTX Founder Denies Fraud

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Where Ted Talks end, Truth Talks begin.
Defending democracy by defending free speech

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

FTX Founder Denies Fraud

By RT News

Sam Bankman-Fried claims he didn’t steal customer funds while at the helm of his now-defunct cryptocurrency exchange.

Former FTX chief executive Sam Bankman-Fried denied on Wednesday committing fraud at his collapsed crypto exchange, with billions in funds missing, and said he’d had a “bad month.”

In his first major public appearance since the November 11 implosion of FTX and sister trading house Alameda Research, Bankman-Fried said he “screwed up” at the helm of the exchange and should have focused more on risk management, customer protection and the links between FTX and Alameda.

“I made a lot of mistakes,” the 30-year-old stated, in a video link at the New York Times DealBook Summit. “There are things I would give anything to be able to do over again. I didn’t ever try to commit fraud on anyone.”

The fallen crypto billionaire also said that he was down to his last $100,000 and had one working credit card left.

His statements come as regulators look into how the Bahamas-based FTX ended up with an $8 billion hole in its balance sheet and whether it mishandled customer funds. There have been reports that FTX lent client money to Bankman-Fried’s cryptocurrency trading firm Alameda for risky trades.

“We completely failed on risk,” Bankman-Fried said, adding: “That feels pretty embarrassing, in retrospect.”

However, he claimed that he wasn’t running Alameda and didn’t know exactly what was going on. “I didn’t know the size of their position,” Bankman-Fried said. “A lot of these are things I’ve learned over the last month [in the days leading up to bankruptcy.]”

Once a major brokerage for trading crypto, FTX revealed it could have as many as 1 million investors seeking to recoup their losses. The Bahamas-based brokerage has billions in liabilities.

FTX filed for Chapter 11 bankruptcy protection on November 11. The debacle followed reports of mishandled customer funds and abandoned acquisition plans by rival exchange Binance.

The scandal has triggered a crisis of confidence in the cryptocurrency market and caused the value of assets including Bitcoin to sink. This week, leading cryptocurrency lender BlockFi, which was financially entangled with FTX, filed for bankruptcy. Embattled brokerage Genesis is currently trying to avoid the same fate.

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Where Ted Talks end, Truth Talks begin.
Defending democracy by defending free speech

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published. Required fields are marked *

Documentary: Died Suddenly (2022)

Play Video

McIntyre Report
Political Talk Show

Episode 157

Episode 157

How you can advertise on Truthbook.social

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Ukraine. Military Summary And Analysis 23.01.2023

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

Watch Full Documentary

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY