{"id":15025,"date":"2022-12-01T10:06:27","date_gmt":"2022-12-01T10:06:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/former-ftx-boss-speaks-at-dealbook-event-says-he-didnt-knowingly-co-mingle-funds-bitcoin-news\/"},"modified":"2022-12-01T10:06:27","modified_gmt":"2022-12-01T10:06:27","slug":"former-ftx-boss-speaks-at-dealbook-event-says-he-didnt-knowingly-co-mingle-funds-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/former-ftx-boss-speaks-at-dealbook-event-says-he-didnt-knowingly-co-mingle-funds-bitcoin-news\/","title":{"rendered":"Former FTX Boss Speaks at Dealbook Event, Says He ‘Didn\u2019t Knowingly Co-Mingle Funds’ \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Nov. 30, 2022, the former FTX CEO Sam Bankman-Fried (SBF) discussed FTX\u2019s collapse at the New York Times\u2019 Dealbook Summit with Andrew Ross Sorkin in his first live-appearance interview since the crypto exchange\u2019s downfall. SBF told the Dealbook Summit host that he was \u201cdeeply sorry about what happened\u201d and further stressed that he \u201cdidn\u2019t knowingly co-mingle funds.\u201d<\/strong><\/p>\n

NYT Dealbook Summit Host Andrew Ross Sorkin Questions Sam Bankman-Fried, Former FTX CEO to Appear on Good Morning America<\/h2>\n

FTX co-founder and former CEO Sam Bankman-Fried (SBF) sat down<\/a> for a long interview with Andrew Ross Sorkin<\/a>, the host of the New York Times\u2019 (NYT) Dealbook Summit. SBF\u2019s Dealbook appearance followed the SBF interview<\/a> published the day prior with crypto supporter and reporter, Tiffany Fong. Appearing virtually at the NYT conference, SBF was asked whether or not he was worried about criminal charges being brought against him.<\/p>\n

\u201cThere\u2019s a time and a place for me to think about myself and my own future,\u201d SBF told<\/a> the NYT Dealbook event host. \u201cI don\u2019t think this is it.\u201d The former FTX CEO explained that he was still located in the Bahamas and that coming back to the U.S. has crossed his mind. \u201cI\u2019ve thought about coming to the U.S.,\u201d the former FTX executive said.<\/p>\n

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I can’t even begin to explain the vibes of this SBF interview at DealBook pic.twitter.com\/uziar5K4bl<\/a><\/p>\n

\u2014 nilay patel (@reckless) November 30, 2022<\/a><\/p>\n<\/blockquote>\n

As far as his net worth, SBF said there are no hidden funds, he has \u201cclose to nothing\u201d left and he was down to a single credit card. Sorkin asked when SBF realized things were going downhill and SBF replied it was Nov. 6 and at that point \u201cwe were putting together all the information.\u201d<\/p>\n

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\u201cLook, I\u2019ve had a bad month,\u201d SBF stressed. \u201cI can\u2019t talk about anyone else \u2026 For me, I dunno, like, I\u2019ve been prescribed various things at various times to help with concentration.\u201d<\/figcaption><\/figure>\n

As far as Alameda Research is concerned, SBF seemed to shift the blame away from his role by insisting he \u201cdidn\u2019t know the size of their position.\u201d \u201cI wasn\u2019t running Alameda,\u201d SBF said fidgeting in his chair. \u201cI didn\u2019t know exactly what was going on.\u201d In the interview, SBF told Sorkin that he thought it was possible FTX customers could get their money back and cited how Bitfinex made customers whole after the exchange was hacked in 2016.<\/p>\n

\u201cI obviously wish that I spent more time dwelling on the downsides and less time thinking about the upsides,\u201d SBF said. The FTX co-founder also remarked that he \u201cdidn\u2019t knowingly co-mingle funds\u201d and he couldn\u2019t recall a time when he told a lie. SBF said:<\/p>\n

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I was as truthful as I\u2019m knowledgeable to be \u2014 I don\u2019t know of times when I lied.<\/p>\n<\/blockquote>\n

Sorkin asked SBF whether or not the company had any formal corporate board structures and SBF replied that there were too many boards across the FTX empire. While FTX had a slew of board members, when it came to risk management SBF told the Dealbook attendees that he \u201ccompletely failed\u201d on that end. \u201cThere was no person in charge of positional risk on FTX,\u201d SBF admitted. The NYT reporter also asked SBF what he thought about the idea that the FTX empire was simply \u201ca bunch of kids on Adderall having a sleepover.\u201d SBF responded:<\/p>\n

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Look, I screwed up. We messed up big.<\/p>\n<\/blockquote>\n

SBF also contended that his parents and his upbringing had nothing to do with the FTX collapse. When asked what he told his parents about the situation, SBF said: \u201cHey guys, I think there might be a problem \u2026 Looks like Alameda\u2019s position might be imploding here.\u201d SBF touched up on his political contributions and he said \u201cmy donations were mostly for pandemic prevention.\u201d Bankman-Fried\u2019s brother operated the left-leaning advocacy group Guarding Against Pandemics. \u201cThat was the primary thing that I was supporting with those contributions,\u201d SBF told the Dealbook Summit host.<\/p>\n

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\u201cI wasn\u2019t spending any time or effort trying to manage risk.\u201d <\/p>\n

Former FTX CEO Sam Bankman-Fried tells @GStephanopoulos<\/a> he \u201cwasn\u2019t even trying\u201d to manage risk at the company. Watch the full interview tomorrow on GMA. pic.twitter.com\/MOBBzWDlYu<\/a><\/p>\n

\u2014 Good Morning America (@GMA) December 1, 2022<\/a><\/p>\n<\/blockquote>\n

During his video call, SBF was of the opinion that all of FTX\u2019s American customers would be made whole, but didn\u2019t really detail how that was the case. He noted that he was \u201cconfused\u201d why FTX US customers were not allowed to process withdrawals. \u201cWhatever happened, why it happened, I had a duty to our stakeholders, our customers, our investors, the regulators of the world, to do right by them,\u201d SBF remarked to Sorkin. \u201cClearly, I didn\u2019t do a good job of that. I didn\u2019t ever try to commit fraud on anyone.\u201d<\/p>\n

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Call me crazy, but I think @sbf<\/a> is telling the truth.<\/p>\n

\u2014 Bill Ackman (@BillAckman) November 30, 2022<\/a><\/p>\n<\/blockquote>\n

In addition to the NYT Dealbook video appearance with Sorkin, Bankman-Fried also discussed the subject with the broadcast Good Morning America, and the show will air on December 1, 2022. In a video clip published<\/a> by GMA, SBF tells the host George Stephanopoulos \u201cI wasn\u2019t spending any time or effort trying to manage risk.\u201d<\/p>\n

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\nTags in this story
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Alameda Research<\/a>, Andrew Ross Sorkin<\/a>, Bankruptcy<\/a>, Bankruptcy Filing<\/a>, Dealbook Interview<\/a>, Dealbook Summit<\/a>, democratic party<\/a>, Filing Bankruptcy<\/a>, FTT<\/a>, FTT Token<\/a>, FTX boss<\/a>, FTX former CEO<\/a>, Good Morning America<\/a>, interview SBF<\/a>, Joe Bankman<\/a>, kids on Adderall<\/a>, New York Times<\/a>, Nov. 6<\/a>, NYT Report<\/a>, Republicans<\/a>, Sam Bankman<\/a>, Sam Bankman-Fried<\/a>, SBF interview<\/a>, sleepover<\/a>, Virtual Discussion<\/a><\/div>\n<\/div>\n

What do you think about the NYT Dealbook Summit interview with Sam Bankman-Fried and Andrew Ross Sorkin? 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, NYT Interview, Twitter, <\/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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