A New York Times report says that FTX founder Sam Bankman-Fried is blaming the FTX collapse on “huge management failures”:
Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, made his first public appearance on Wednesday since his business empire imploded this month, insisting that he “did not ever try to commit fraud” and repeatedly saying he didn’t know the extent of what was going on within his crypto businesses.
In a live interview at The New York Times’s DealBook conference in Manhattan, Mr. Bankman-Fried blamed “huge management failures” and sloppy accounting for the collapse of his $32 billion company, which has sparked civil and criminal investigations.
Those investigations are focused on whether FTX broke the law by lending its customers’ funds to a trading firm, Alameda Research, which Mr. Bankman-Fried also owned. Speaking via a video feed from the Bahamas, where FTX was based, the 30-year-old said he didn’t “knowingly commingle funds.” At another point, he said, “I didn’t know exactly what was going on.”
It looks like another huge scam has collapsed, but a Good Morning America interview with Bankman-Fried being questioned by George Stephanopoulos will air Thursday and the SBF head seems to be given a chance to spin the situation:
TOMORROW: Collapse of a crypto empire — @GStephanopoulos sits down with former FTX CEO Sam Bankman-Fried to talk about what went wrong at the company in a one-on-one interview on @GMA. pic.twitter.com/M1svJISIwZ
— Good Morning America (@GMA) November 30, 2022
Dem operative interviews Dem donor https://t.co/qmD3gElJ2B
— Chuck Ross (@ChuckRossDC) December 1, 2022
Well at least the media’s giving SBF a chance to try and explain himself.
he’s 100% going to get away with it. this rehab tour is the first step. https://t.co/GjyPsd0yeP
— T. Becket Adams (@BecketAdams) December 1, 2022
Kid glove treatment for the Dem megadonor https://t.co/JTXB8pGL9M
— Jorge Bonilla (@BonillaJL) December 1, 2022
Are they seriously going to try and let this dude slide? Just have him apologize and everything is ok? He stole millions of dollars from average Americans, their life savings. 🤯 https://t.co/5A0FC8bbIO
— Hodgetwins (@hodgetwins) December 1, 2022
Time will tell. But if this guy was connected closely to Trump there’s no way in hell he’d be getting this kind of benefit of the doubt from a large segment of the media.
Notice how Stephanopoulos, a Democrat who used to work in the Clinton administration, treats this creep (who is the Democrats’ top donor) like he just got in trouble at school…not like he defrauded millions of people for billions of dollars https://t.co/2eOlo7uDFX
— Ryan Saavedra (@RealSaavedra) December 1, 2022
Too bad it’s not very surprising.
Gotta love the fake show of repentance.
The uncomfortably aggressive sunken shoulders, the head hanging dramatically low. Jesus that dude is horrible at acting.
— Frosty (@FrostyTakes) December 1, 2022
yeah, this dude is getting away with it. they brought in one of the clinton people to interview him for cleanup. https://t.co/RgWgeKLzGn
— kaitlin (@thefactualprep) December 1, 2022
I really don’t think he’ll get away with it.
— crush override (@deeplore5) December 1, 2022
We’ll see what the future holds…
So if you steal billions of $$ but also give billions of $$ of that stolen $$ to the “right” people, you get to do a media tour and not a perp walk..got it. https://t.co/UlK6lU4QrM
— Matt Finkes (@MattFinkes) December 1, 2022
Whatever happened, SBF is “deeply sorry” about it:
QUESTION: “Can you please ask SBF why he decided to steal my life savings?”
SBF: “Yeah. Um, I mean, I’m deeply sorry about what happened.” pic.twitter.com/0YnoHdGhBW
— Townhall.com (@townhallcom) November 30, 2022
Why didn’t Bernie Madoff think of that defense…
— Brian Ross (@brewmeone) November 30, 2022
Madoff must be kicking himself.