Features Crypto News by Thebittimes.Com

The former FTX CEO is receiving major backlash for his New York Time DealBook Summit and Good Morning America interviews. The Former CEO of FTX, Sam Bankman-Fried, known also as SBF, has seemingly begun to embark on an apology tour to redeem his image a month after the sudden implosion of FTX, which revealed the exchange’s improper use of customer and investor funds.  OnNov 30, Bankman-Fried made his first live public appearance since the collapse of FTX — answering a number of questions during the DealBook Summit in New York. In the interview, Bankman-Fried claimed to have “unknowingly commingled funds” between Alameda and customer funds at FTX. He shared:  “I unknowingly commingled funds. [...] 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.” In another interview that aired on the morning of Dec. 1 on Good Morning America, Bankman-Fried denied any kno...

According to the former CEO, at the time of filing for bankruptcy “FTX US was solvent.” An interview between the Former FTX CEO Sam Bankman-Fried ‘SBF’ and George Stephanopoulos aired on Good Morning America on Dec. 1. In the interview, SBF was insistent that FTX was not a “Ponzi scheme” but was “a real business.” The former CEO also denied any knowledge of FTX customer deposits being used to pay Alameda Research’s creditors, as reportedly claimed by Alameda’s CEO Caroline Ellison. According to him, he had no knowledge of “any improper use of customer funds”.  Bankman-Fried also admitted to not spending any time and effort trying to manage risk on FTX. He shared:   "There is something maybe even deeply wrong there, which was, I wasn't even trying. Like, I wasn't spending any time or effort trying to manage risk on FTX and that was obviously a mistake.” "If I had been spending an hour a day thinking about risk management on FTX, I don't think that would have h...