Former FTX CEO Sam Bankman-Fried apologizes, says didn't 'try to commit fraud'

Updated : Dec 07, 2022 10:03
|
AFP

Former FTX Chief Executive Sam Bankman-Fried apologized Wednesday for a "lot of mistakes" in the abrupt collapse of the cryptocurrency firm and said he did not knowingly behave fraudulently.

"I didn't ever try to commit fraud on anyone," Bankman-Fried told the Dealbook conference hosted by CNBC and The New York Times.

"I'm deeply sorry about what happened," Bankman-Fried said. "Clearly I made a lot of mistakes or things I would be able to give anything to be able to do over again."

On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection while facing a large financing shortfall and a deluge of withdrawals from panicked customers. The firm at its peak had been worth some $32 billion.

At the time, FTX had taken some $10 billion in customer funds without authorization, according to the Wall Street Journal.

banksBankrupcycrypto crisis

Recommended For You

editorji | Business

India To Grow 7% In FY27, Next Growth Phase Hinges On Infra, Deeper Capital Markets: S&P Global

editorji | Business

Sensex Falls 49 Points, Nifty Slips 96 As Selling Pressure Returns

editorji | Business

Sensex falls 243 points, Nifty slips 64 points as foreign outflows and crude prices weigh

editorji | Business

India launches anti-dumping probes into 7 Chinese products, including key pharma ingredients

editorji | Business

Sensex crashes 1,124 points, Nifty falls 1.56% as crude surges above $107