'I was frankly surprised by how big Alameda’s position was which points to another failure of oversight on my part and failure to appoint someone to be chiefly in charge of that.'
Former FTX CEO Sam Bankman-Fried has made his first live public appearance since the collapse of FTX — answering a number of questions during the DealBook Summit in New York on Nov. 3on stage by New York Times journalist Andrew Sorkin, speaking to Bankman-Fried via video conference.
In this instance, the"comingling" referred to the customers' funds deposited with FTX and loaned to its sister company Alameda. Sorkin referred to a submission sent in by a viewer earlier which pointed out that this happened despite FTX’s terms of service stating that customers' digital assets they hold are not their property and that they would act as if they were.
“I don't think that I personally have, you know [criminal liability] … but I think the real answer is that’s not what I'm focusing on.” To the laughter of the audience, Bankman-Fried replied “very much not,” and while suggesting he was given the classic advice of not to say anything, adds:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sam Bankman-Fried gave cash to liberal media organizations before FTX collapseProgressive FTX founder Sam Bankman-Fried faces questions about money given to liberal news organizations and whether he paid for favorable media coverage.
Read more »
Disgraced FTX founder Sam Bankman-Fried ghosted his legal team over bankruptcy: reportHours before the FTX bankruptcy, an attorney was reportedly still begging SBF to sign the papers.
Read more »
Sam Bankman-Fried Called to FTX Hearing by Texas Securities RegulatorTexas regulators have called former FTX_Official CEO SBF_FTX to a hearing in February to answer claims that FTX offered unregistered securities through its yield-bearing service. jesseahamilton and cheyenneligon report
Read more »
FTX founder Sam Bankman-Fried quietly purchased major Democratic data firmFTX founder Sam Bankman-Fried reportedly bought a major Democratic voter analytics software company over the summer, chasing away the firm's other investors.
Read more »
Sam Bankman-Fried Addresses Withdrawals, FTX Collapse in Newly Released Audio InterviewIn a second audio interview SBF gave following FTX’s collapse, he discussed what he would have done differently and said he felt there was a “50-50 chance” FTX would be OK now if Binance’s CZ hadn’t expressed concerns about FTX. By skesslr and NelWang
Read more »
Sam Bankman-Fried says he has $100K left in bank account after FTX collapseFormer FTX CEO Sam Bankman-Fried has revealed that he now has $100,000 in his personal bank account after once being valued at $26.5 billion, a report says.
Read more »