{"id":15405,"date":"2022-12-13T03:13:39","date_gmt":"2022-12-13T03:13:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sam-bankman-fried-wants-to-start-new-business-to-repay-ftx-users-im-going-to-try-if-i-can-featured-bitcoin-news\/"},"modified":"2022-12-13T03:13:39","modified_gmt":"2022-12-13T03:13:39","slug":"sam-bankman-fried-wants-to-start-new-business-to-repay-ftx-users-im-going-to-try-if-i-can-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sam-bankman-fried-wants-to-start-new-business-to-repay-ftx-users-im-going-to-try-if-i-can-featured-bitcoin-news\/","title":{"rendered":"Sam Bankman-Fried Wants to Start New Business to Repay FTX Users \u2014 ‘I’m Going to Try if I Can’ \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Former FTX CEO Sam Bankman-Fried (SBF) has revealed that he wants to start another business in the hope of earning money to repay FTX customers. \u201cI would give anything to be able to do that. And I\u2019m going to try if I can,\u201d he said.<\/strong><\/p>\n

SBF Wants to Start a New Business<\/h2>\n

Sam Bankman-Fried (SBF), former CEO of the collapsed crypto exchange FTX, was asked in an interview with the BBC, published Saturday, whether he planned to start a new business venture to earn the money to pay FTX investors and customers back. The former FTX boss replied:<\/p>\n

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I would give anything to be able to do that. And I\u2019m going to try if I can.<\/p>\n<\/blockquote>\n

He added: \u201cI\u2019m going to be thinking about how we can help the world and if users haven\u2019t gotten much back, I\u2019m going to be thinking about what I can do for them. And I think at the very least I have a duty to FTX users to do right by them as best as I can.\u201d<\/p>\n

FTX filed for bankruptcy<\/a> on Nov. 11 and an estimated one million customers and investors lost billions of dollars in the exchange collapse. However, Bankman-Fried has insisted that he did not knowingly<\/a> commingle customer funds or commit fraud. SBF told the news outlet:<\/p>\n

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I didn\u2019t knowingly commit fraud, I don\u2019t think I committed fraud, I didn\u2019t want any of this to happen. I was certainly not nearly as competent as I thought I was.<\/p>\n<\/blockquote>\n

Bankman-Fried was also asked whether he is prepared for the possibility of him going to prison. The former FTX CEO replied:<\/p>\n

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There\u2019s some time at night ruminating, yes, but when I get up during the day, I try and focus, be as productive as I can and ignore things that are out of my control.<\/p>\n<\/blockquote>\n

At least one person has said he will support<\/a> SBF again if he has another venture. Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, believes that Bankman-Fried is one of the best traders in the crypto space. He and hedge fund manager Bill Ackman are convinced<\/a> that the former FTX chief did not knowingly commit fraud. O\u2019Leary was paid $15 million<\/a> by FTX to become the exchange\u2019s spokesperson. The Shark Tank star also nearly secured<\/a> $8 billion to save FTX before it collapsed.<\/p>\n

On Monday evening, the Office of the Attorney General & Ministry of Legal Affairs announced that Bankman-Fried has been arrested<\/a> by the Royal Bahamas Police Force after the U.S. filed criminal charges against him.<\/p>\n

What do you think about Sam Bankman-Fried wanting to start a new business venture to repay FTX users? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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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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