The former CEO claimed that FTX US was solvent when it filed for bankruptcy.
Sam Bankman-Fried (SBF), the former CEO of FTX, spoke with George Stephanopoulos in an interview that aired on “Good Morning America” on December 1.
SBF insisted throughout the interview that FTX was “a real business” and not a “Ponzi scheme.”
FTX customer deposits allegedly used to pay off the debts of Alameda Research were also denied by the former CEO, despite allegations made by Caroline Ellison, the CEO of Alameda.
He claimed that he was unaware of “any improper use of customer funds.”
In addition, SBF also admitted that he wasn’t spending any time and effort trying to manage risk on FTX.
“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 happened. And I don’t feel good about that.”
The former billionaire is said to have lost his fortune as a result of FTX’s demise. He claimed that after having an estimated $20 billion in net worth previously, he now only has $100,000 in his bank account and one ATM card.
Bankman-Fried stated that his current priorities are navigating the legal and regulatory systems while also “trying to focus on what I can do going forward to be helpful.”
A few hours after the interview aired, the former CEO used his Twitter account to elaborate on remarks made in a different interview that aired live the previous evening on The New York Times’ DealBook Summit on November 29.