SBF Shifts FTX Blame: “I Didn’t Knowingly Commingle Funds”.
Following the massive collapse and bankruptcy of his giant crypto exchange FTX, former CEO Sam Bankman-Fried (SBF) has taken to the stage to speak live publicly for the first time since the first time since FTX filed for bankruptcy earlier this November.
Speaking at the New York Times publication’s annual DealBook Summit, Sam Bankman-Fried addressed a number of things surrounding him and his involvement that led to FTX’s fall.
Bankman-Fried asserted that despite what many in the community may think, he did not purposely commingle with the company’s funds. “I was surprised just how big Alameda’s position was… I wasn’t trying to commingle funds.” SBF stated.
At one point, Bankman-Fried also heavily denied the idea that what he had committed was fraud, claiming “I didn’t ever try to commit fraud.”
“I was excited about the prospects of FTX a month ago. I saw it as a thriving, growing business. I was shocked by what happened this month. And, reconstructing it, there are things that I wish I had done differently.” SBF explains.
SBF can't even look at the camera as Andrew Ross Sorkin says he was just hoping we wouldn't get caught co-mingling funds between FTX and Almeida after SBF claimed he just made mistakes.
What a disaster lmfao. pic.twitter.com/uXtnaHl3Zs
— Greg Price (@greg_price11) November 30, 2022
In a previous interview published only a day before this summit, Sam Bankman-Fried had also been heavily denying any rumors or claims about his negative intentions that may have been the reason for FTX’s downfall.
The former CEO also denied having coded or created a specific system that allowed for him and other executives to make “backdoor” transactions and transfer funds without the knowledge of anyone else at FTX.
It seems that throughout the interviewers SBF has done throughout this past month, he still remains faithful to his claims that FTX’s fall was a big “mistake” and that none of it was done out of malicious intent.