SBF Says He Wants To Run New Business To Repay FTX Investors

SBF Says He Wants To Run New Business To Repay FTX Investors

Former CEO of the collapsed crypto exchange FTX says that he plans to do everything he can do in order to pay back the FTX customers he owes money to.

Starting A New Business

In a recent interview with the BBC in the Bahamas, Sam Bankman-Fried or SBF, expresses his apparent regret at the collapse and bankruptcy of his massive crypto exchange FTX, admitting that he was “not nearly as competent as I thought I was.”

When asked whether he planned to make a new business to earn the money to compensate FTX investors, SBF responded that he was willing to do what he can to help investors. 

I would give anything to be able to do that. And I’m going to try if I can,” SBF said.

I’m going to be thinking about how we can help the world and if users haven’t gotten much back, I’m going to be thinking about what I can do for them. I think at the very least I have a duty to FTX users to do right by them as best as I can.” The former CEO added.

Related: SBF Probed For Role In Terra Luna Collapse, Do Kwon Chimes In

During this interview, SBF was also questioned about the accusations made against him, including the fact that a former senior FTX employee accused him of lying in recent interviews of not knowing about the malpractices of customer funds happening in FTX and Alameda.

No that’s not true […]I didn’t knowingly commit fraud,” SBF argues, “I didn’t knowingly commit fraud, I don’t think I committed fraud, I didn’t want any of this to happen.

SBF To Attend FTX Hearing

In other news, after days of tweeting back and forth between Sam Bankman-Fried and U.S House Representative Maxine Waters, the former FTX CEO has finally agreed to attend and testify at Dec. 13 hearing, titled “Investigating the Collapse of FTX, Part I.”

In a series of tweets, SBF claims that he personally no longer has much access to FTX’s data and because of this may be restricted on what he can say at the hearing, despite this he still wishes to attend to shed light on what happened, including what led to the crash, what he failed to do as CEO, and pathways that could return value to users internationally.

I had thought of myself as a model CEO, who wouldn’t become lazy or disconnected. Which made it that much more destructive when I did. I’m sorry. Hopefully people can learn from the difference between who I was and who I could have been.” SBF tweeted.

Related: Ethereum Devs Reveal Target Date For Staked ETH Withdrawals!

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