Sam Bankman-Fried says he regrets filing for bankruptcy: Report
The former CEO had an in-depth interview during which he made a number of startling remarks.
New
Former FTX CEO Sam Bankman-Fried has expressed deep regret over filing for Chapter 11 bankruptcy last week, calling it the "biggest bullshit."
In an extensive interview with VOX that was published Nov. 16, Bankman-Fried reportedly answered questions on a number of topics including the Nov. 11 Chapter 11 bankruptcy filing, his thoughts on regulators, ethics, how FTX and Alameda "played with customers' money" and the FTX hack.
According to screenshots of the Twitter conversation between VOX reporter Kelsey Piper and Sam Bankman-Fried, the former FTX CEO said that while he made several mistakes, the biggest one was... listen to what people were telling him to do and file for chapter 11 bankruptcy.
“I screwed up many times,” Bankman-Fried wrote. "You know what was maybe my biggest bullshit?"
"The only thing *everyone* told me to do is [...] chapter 11."
Bankman-Fried said if he hadn't filed for Chapter 11 bankruptcy, "everything would be about 70% settled right now" and "withdrawals would open in a month with clients fully complete", adding:< /p>
"But instead, I filed, and the people responsible for it are trying to burn it all down out of shame"
After acknowledging a "cash crisis" on Nov. 8, Bankman-Fried reportedly solicited $8 billion from investors in emergency funding to cover a shortfall, even offering his personal wealth to "return entire customers and investors".
When asked what was next for him, Bankman-Fried suggested he still had two weeks to get the $8 billion, which is "essentially all that matters for the rest of my life".
However, in a Nov. 16 statement, FTX CEO and Chief Restructuring Officer John Ray reminded the public that Bankman-Fried "has no ongoing role at [FTX], FTX US, or Alameda Research. ...
The former CEO had an in-depth interview during which he made a number of startling remarks.
New
Former FTX CEO Sam Bankman-Fried has expressed deep regret over filing for Chapter 11 bankruptcy last week, calling it the "biggest bullshit."
In an extensive interview with VOX that was published Nov. 16, Bankman-Fried reportedly answered questions on a number of topics including the Nov. 11 Chapter 11 bankruptcy filing, his thoughts on regulators, ethics, how FTX and Alameda "played with customers' money" and the FTX hack.
According to screenshots of the Twitter conversation between VOX reporter Kelsey Piper and Sam Bankman-Fried, the former FTX CEO said that while he made several mistakes, the biggest one was... listen to what people were telling him to do and file for chapter 11 bankruptcy.
“I screwed up many times,” Bankman-Fried wrote. "You know what was maybe my biggest bullshit?"
"The only thing *everyone* told me to do is [...] chapter 11."
Bankman-Fried said if he hadn't filed for Chapter 11 bankruptcy, "everything would be about 70% settled right now" and "withdrawals would open in a month with clients fully complete", adding:< /p>
"But instead, I filed, and the people responsible for it are trying to burn it all down out of shame"
After acknowledging a "cash crisis" on Nov. 8, Bankman-Fried reportedly solicited $8 billion from investors in emergency funding to cover a shortfall, even offering his personal wealth to "return entire customers and investors".
When asked what was next for him, Bankman-Fried suggested he still had two weeks to get the $8 billion, which is "essentially all that matters for the rest of my life".
However, in a Nov. 16 statement, FTX CEO and Chief Restructuring Officer John Ray reminded the public that Bankman-Fried "has no ongoing role at [FTX], FTX US, or Alameda Research. ...
What's Your Reaction?
