{"id":14989,"date":"2022-11-30T15:30:14","date_gmt":"2022-11-30T15:30:14","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sam-bankman-fried-interview-reveals-dark-donations-to-republicans-ftxs-poorly-labeled-accounting-bitcoin-news\/"},"modified":"2022-11-30T15:30:14","modified_gmt":"2022-11-30T15:30:14","slug":"sam-bankman-fried-interview-reveals-dark-donations-to-republicans-ftxs-poorly-labeled-accounting-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sam-bankman-fried-interview-reveals-dark-donations-to-republicans-ftxs-poorly-labeled-accounting-bitcoin-news\/","title":{"rendered":"Sam Bankman-Fried Interview Reveals Dark Donations to Republicans, FTX’s \u2018Poorly Labeled Accounting\u2019 \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Nov. 29, 2022, the crypto supporter and reporter, Tiffany Fong, published an interview with the former FTX CEO Sam Bankman-Fried (SBF) that was recorded 13 days before the interview was released. During the interview, SBF discussed who he thinks may have hacked FTX and he further denied he had a backdoor installed to funnel funds between FTX and Alameda Research. \u201cI don\u2019t even know how to code,\u201d SBF stressed to Fong during the conversation. Additionally, the New York Times claims to have obtained a slew of emails and text messages between FTX\u2019s legal counsel, other top executives, and SBF while the exchange was in the midst of collapse.<\/strong><\/p>\n

SBF Claims Backdoor Accusations Are \u2018Definitely Not True,\u2019 Probably a \u2018Poorly Labeled Accounting Thing\u2019<\/h2>\n

Roughly two weeks ago, the co-founder and former CEO of FTX, Sam Bankman-Fried<\/a> (SBF), decided to do a phone interview with Tiffany Fong<\/a>. The telephone interview (here<\/a> and here<\/a>) was revealed by Fong a few days before she published it, and on Tuesday, Nov. 29, 2022, the discussion with SBF was published on Youtube.<\/p>\n

\u201cYou don\u2019t get into the situation we got in, if you make all the right decisions,\u201d SBF said during his chat. \u201cIf I\u2019d been more careful \u2026 there\u2019s a billion things I could have done.\u201d In the interview, Fong talked about the alleged \u201cbackdoor\u201d that was mentioned<\/a> in a Reuters article that said, \u201cexecutives set up a book-keeping backdoor.\u201d<\/p>\n

SBF denied the \u201cbackdoor\u201d claims when he spoke with Fong, and he insisted that he \u201cliterally never opened the codebase for any of FTX.\u201d \u201cThat\u2019s definitely not true \u2026 I don\u2019t even know how to code,\u201d the former FTX CEO remarked. SBF said he doesn\u2019t know exactly what the Reuters article was referring to when they published a story about the backdoor. SBF said, however, it may have been a \u201cpoorly labeled accounting thing,\u201d when he stated:<\/p>\n

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I was wrong \u2026 I was incorrect on Alameda\u2019s balances on FTX by a fairly large number, an embarrassingly large one.<\/p>\n<\/blockquote>\n

SBF Discusses \u2018Dark\u2019 Donations to Republicans to Appease \u2018Super-Liberal\u2019 Media, FTX Co-Founder Touches on FTX\u2019s Wallet \u2018Hack\u2019<\/h2>\n

During the interview with Fong, SBF touched upon campaign finance in the U.S. and addressed how high-up FTX officials donated millions<\/a> of U.S. dollars to America\u2019s two-party system of politicians. While its widely known SBF donated to the Democratic party, the FTX co-founder said he donated to Republicans in the dark to appease liberal media. \u201cI donated about the same amount to both parties,\u201d Bankman-Fried said.<\/p>\n

\"Sam
In the interview with Fong, SBF also talked about polyamory. \u201cWe as a society have, in my opinion, in my humble opinion \u2026 I spent about enough time this week trying to figure out whether anyone living in Albany was polyamorous. I feel like I\u2019ve answered that question a lot, and the answer is too boring for people to believe.\u201d<\/figcaption><\/figure>\n

\u201cAll my Republican donations were dark,\u201d SBF told Fong during the telephone conversation. \u201cThe reason was not for regulatory reasons. It\u2019s because reporters freak the f*** out if you donate to Republicans, they\u2019re all super-liberal, and I didn\u2019t want to have that fight.\u201d<\/p>\n

SBF also told Fong that the theories<\/a> surrounding FTX and Ukraine were false, but noted that he wished he was \u201cpart of an international conspiracy that interesting.\u201d Bankman-Fried also talked about the hacker who drained FTX\u2019s wallets<\/a> the same day the firm filed<\/a> for bankruptcy protection.<\/p>\n

The FTX co-founder believes he \u201cnarrowed it down to like eight people \u2014 I don\u2019t know which one it was.\u201d SBF also told Fong that he was able to acquire capital in the sum of $4 billion from an unspecified fund \u201ceight minutes\u201d after his exchange filed for bankruptcy protection. Furthermore, despite the red flags<\/a> surrounding FTX\u2019s FTT token<\/a> and how it was held by very few wallets (and still is<\/a>), SBF wholeheartedly believed FTT was better than a lot of other tokens.<\/p>\n

\u201cI think [FTT token] was basically more legit than a lot of tokens in some ways,\u201d SBF explained during his interview with Fong. \u201cIt was more economically underpinned than the average token was,\u201d he added.<\/p>\n

Report Claims SBF \u2018Ignored\u2019 Warnings and \u2018Clung to Power\u2019 Waiting Until the Last Minute to Relinquish Control of FTX<\/h2>\n

On the same day, Fong released her interview with SBF, New York Times (NYT) reporter David Yaffe-Bellany published an article<\/a> featuring quotes from \u201cdozens of pages of emails and private messages\u201d obtained by the publication. The report said during the time FTX was collapsing reportedly there was \u201cno cooperation\u201d with SBF, as far as giving up control of the exchange.<\/p>\n

The NYT report claims documents show that FTX\u2019s legal counsel and other top executives wanted SBF to relinquish authority immediately and prep for bankruptcy proceedings. \u201c[SBF] ignored their warnings and clung to power, seemingly convinced that he could save the firm, despite mounting evidence to the contrary,\u201d the report details.<\/p>\n

\"Sam
Speaking with Fong during his interview, SBF admitted FTX prioritized Bahamanian withdrawals. \u201cThe reason I did it \u2026 is you do not want to be in a country with a lot of angry people in it.\u201d<\/figcaption><\/figure>\n

FTX\u2019s lead legal counsel member Ryne Miller<\/a>, a former U.S. Commodity Futures Trading Commission (CFTC) employee for over three years, insisted \u201cthe exchanges must be halted immediately.\u201d The email to FTX staff on Nov. 10 stressed: \u201cThe founding team is not currently in a cooperative posture.\u201d That same day, the NYT report says SBF told the FTX staff that he was trying to raise capital but in a text message to top executives, Miller remarked the fundraising chances had a \u201c0% likelihood.\u201d<\/p>\n

Another message the NYT reviewed shows that FTX\u2019s chief operating officer, Constance Wang, told employees \u201cI don\u2019t want to stop trying yet\u201d when things were looking quite bleak for the crypto exchange.<\/p>\n

According to Yaffe-Bellany\u2019s report, in a group chat with a number of FTX employees, Alameda Research\u2019s CEO Caroline Ellison<\/a> said she was \u201ckinda worried that everyone is gonna quit\/take time off.\u201d Yaffe-Bellany\u2019s report says that in private messages FTX officials \u201cpressed the case with Mr. Bankman-Fried\u2019s father,\u201d the Stanford Law professor Joe Bankman<\/a>.<\/p>\n

Between talking with his dad and an alleged fundraising discussion with Tron founder Justin Sun, SBF finally gave up control to John Jay Ray III<\/a>. Ray is FTX\u2019s new CEO<\/a> and is overseeing<\/a> the bankruptcy and restructuring proceedings. The interview with Tiffany Fong followed five days after he relinquished control of the company and FTX filed for bankruptcy protection.<\/p>\n

After the interview, Fong noted<\/a> that \u201cSBF expresses remorse in this interview\u201d and in another statement, she said<\/a> she was \u201cnot expecting to have an impromptu phone call [with] Sam Bankman-Fried.\u201d The former FTX CEO is also scheduled to speak<\/a> with Andrew Ross Sorkin at the annual New York Times Dealbook Summit on Nov. 30.<\/p>\n

Alameda CEO Caroline Ellison reportedly<\/a> left Hong Kong and fled to Dubai, but reports are unconfirmed. FTX co-founder Gary Wang\u2019s location is currently unknown at the time of writing, and both Wang and Ellison have yet to talk to the press.<\/p>\n

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\nTags in this story
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Alameda\u2019s balances<\/a>, Backdoor<\/a>, Bankruptcy<\/a>, Bankruptcy Filing<\/a>, Caroline Ellison<\/a>, CFTC<\/a>, Dealbook Summit<\/a>, democratic party<\/a>, Filing Bankruptcy<\/a>, FTT<\/a>, FTT Token<\/a>, FTX and Ukraine<\/a>, FTX former CEO<\/a>, FTX New CEO<\/a>, FTX Token<\/a>, Hacker<\/a>, Joe Bankman<\/a>, John Jay Ray III<\/a>, lawyer<\/a>, legal counsel<\/a>, New York Times<\/a>, NYT Report<\/a>, Republicans<\/a>, Reuters<\/a>, Reuters SBF<\/a>, ryne miller<\/a>, Sam Bankman<\/a>, Sam Bankman-Fried<\/a>, SBF Tiffany Fong<\/a>, Tiffany Fong<\/a>, Tiffany Fong Interview<\/a>, Tiffany Fong SBF<\/a>, Top Executives<\/a><\/div>\n<\/div>\n

What do you think about former FTX CEO Sam Bankman-Fried\u2019s interview with Tiffany Fong? What do you think about the New York Times report that says SBF didn\u2019t relinquish control of FTX so easily? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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