Sam Bankman-Fried, the former CEO of the crypto exchange FTX, initially made an appearance at the Dealbook Summit for an interview with journalist Andrew Ross Sorkin.
Throughout the interview, he said, “I did not intentionally mix monies.” The crypto community did not respond well to the discussion, and SBF received criticism for his divisive comments.
SBF admitted that clients weren’t actually exchanging bitcoin when they bought and sold it on FTX. Just a bogus entry on their FTX account, that’s all.
SBF’s responses during the interview have generated debate on the crypto Twitter; some people think he was telling the truth, while others believe they are just distractions. Another advocate for the position that SBF is telling the truth in the interview is a Canadian businessman and Shark Tank celebrity Kevin O’Leary.
SBF seems to respond to the inquiries in a way that suggests he is unaware of what is going on with FTX. He claims he needs to find out why the FTX US withdrawals have been put on hold.
Vinny Lingham, an investor in crypto projects, thinks SBF’s legal strategy is to describe fraud as incompetence to avoid jail.
Ross Sorkin questioned SBF: What is he now being told by his attorneys? Are they advising him that speaking now is a good idea? They are definitely not, he replied.
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The Information reported that Brett Harrison, former president of FTX US, is looking to raise $6 million for a firm. The firm focuses on cryptocurrencies and has a valuation of $60 million. On Twitter in late September, he declared his departure from FTX.