Highlights

  • FTX had taken some $10 billion in customer funds without authorization
  • Bankman-Fried apologizes, says didn't 'try to commit fraud'
  • FTX at its peak had been worth some $32 billion

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

On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection

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

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.

Frequently Asked Questions

Sam Bankman-Fried apologized for a 'lot of mistakes' in the abrupt collapse of the cryptocurrency firm FTX.

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