Sam Bankman-Fried Praises Regulators Following Leaked DMs
Sam Bankman-Fried Praises Regulators Following Leaked DMs.
Former CEO of FTX Sam Bankman-Fried has yet again drawn massive criticism from the community following a number of leaked messages.
SBF’s Leaked DMs
Recently, a Vox reporter leaked private messages exchanged between them and former CEO of crypto exchange FTX, Sam Bankman-Fried, discussing a number of things following the bankruptcy of the exchange.
— sophie (@netcapgirl) November 16, 2022
One notable part of these DMs was when SBF began to talk about crypto regulations and regulators. When asked about why he often talks about wanting to make his own regulations, SBF argues that the current regulators were really doing nothing for the industry.
“There’s no one really out there making sure good things happen and bad things don’t.” SBF wrote.
“Usually there’s only one toggle– do more or do less… yeah just PR… f*ck regulators…they make everything worse…they don’t protect customers at all.“
Related: New FTX CEO Says SBF Has No Longer Has An Active Role In FTX!
Just mere hours after these DMs leaked, Bankman-Fried soon made a number of tweets, seemingly trying to do damage control after his harsh words towards regulators.
In his thread, SBF began to praise regulators, claiming that he understands just how difficult their job is.
“They have an impossible job: to regulate entire industries that grow faster than their mandate allows them to,” he wrote, “and so often they end up mostly unable to police as well as they ideally would.“
“Even so, there are regulators who have deeply impressed me with their knowledge and thoughtfulness.“
28) Even so, there are regulators who have deeply impressed me with their knowledge and thoughtfulness. The CFTC has; the SCB, and VARA, too. And others, scattered.
But most are overwhelmed.
— SBF (@SBF_FTX) November 16, 2022
SBF then goes on to admit that he never expected his private messages to have been leaked, acknowledging that what he wrote was “thoughtless” and “overly strong”.
“I was venting and not intending that to be public. I guess at this point what I write leaks anyway.” He wrote.
Related: Genesis Global Capital Temporarily Suspend Withdrawals and New Loans Following FTX Bankruptcy
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