Sam Bankman-Fried took questions at the DealBook Summit on Wednesday regarding the collapse of FTX, the now-bankrupt cryptocurrency exchange he founded.
Bankman-Fried said that Alameda became too closely tied to FTX and denied that he was aware of the positions the hedge fund had taken that led to it becoming over-leveraged. He said that he kept his distance from the decision-making at Alameda because "I was nervous because of the conflict of interest of being too involved.
When asked about whether his lawyers think it's a good idea for him to be talking to the media this openly, Bankman-Fried responded "certainly not" but that, "I have a duty to talk and to explain what happened." He added that he doesn't think he has any criminal liability for the collapse of FTX, but that's not his focus at the moment. "There's a time and a place for me to think about myself and my own future – I don't think this is it," he said.
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