As we have seen in recent days, Sam Bankman-Fried is not necessarily the most subtle when it comes to communicating. And he just proved it again in a conversation that leaked yesterday on the networks. The ex-CEO of FTX talks about his charitable initiatives, which he says were a facade, as well as other lies broadcast to the press. We go around his statements without filter.
Sam Bankman-Fried talks about his “facade”
The mask has fallen. The real personality of Sam Bankman-Fried began to reveal itself two weeks ago, when we learned more about his lifestyle, or his mistakes. And a leak of Twitter messages between him and a journalist brings grist to the mill.
The ex-CEO of the defunct FTX allegedly contacted a Vox reporter late on the night of November 15, and he’s been strangely open about his real opinions. The messages were also confirmed by Sam Bankman-Fried, so we know they were not tampered with.
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The journalist thus asked SBF “So all the ethics stuff – it was mostly a facade?», and the answer was clear:
” Yes. I mean, that’s not the whole answer, but it’s the biggest part. »
What the reporter pointed to that Sam Bankman-Fried was “very good at talking about ethicsfor someone who actually has a Manichean view of the world. SBF admits that it all had a purpose:
“Yes, haha. I had to be that’s what reputations are based onpartially.»
👉 Find our portrait of Sam Bankman-Fried to better understand his public image at the time
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“Fuck the Regulators”
Sam Bankman-Fried also reveals that it is not as open to regulation he claimed to be. The journalist asks him if his efforts to promote “goodregulations were communication, more than conviction. Yes, according to SBF, which has a rather nihilistic vision of the ecosystem.
“There isn’t really someone making sure that good things happen and bad things don’t happen. […] It was just communication. Fuck the regulatorsthey complicate everything and they don’t protect customers at all.»
According to SBF, regulators do not have the capacity to distinguish between what is beneficial and negative for the ecosystem. He asserts that no regulator does not really protect consumersand that the only rule that exists is the following:
“Only the rich can invest; only they can win or lose money.»
👉 ALSO READ – Are there murky ties between Sam Bankman-Fried and SEC Chairman Gary Gensler?
Rivalry with Changpeng Zhao persists
Sam Bankman-Fried also reveals in his posts that he didn’t want to do any shady actions on behalf of FTX… But mostly because “the negative effectswould have been difficult to manage. SBF has indeed made itself known for its apparently philanthropic positionsjudging that if an action could have a negative effect, it should not be undertaken.
But that, too, was a facade, according to the ex-CEO of FTX:
“All the stupid stuff I was saying… It’s not true, not really.»
Including its positioning in relation to Changpeng Zhao, the CEO of Binance? Sam Bankman-Fried warmly thanked his rival when he wanted to buy FTX. But it was all about the moneyand SBF considers that CZ won the war:
“From now on, [CZ] is a hero. Is it because he is virtuous? Or because he has the biggest balance sheet? So he won.»
👉 Related – Binance to Reveal Details of Aborted FTX Takeover and FTT Sale
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Sam Bankman-Fried’s Biggest Mistake
Sam Bankman-Fried also mentions his biggest mistakewhich he bitterly regrets.
“I messed up, massively, and multiple times. But you know what is maybe my biggest mistake? […] Chapter 11 [la déclaration de faillite, NDLR]. If I hadn’t done that, withdrawals would be reopened in a month for the customers.»
He considers that thecollateral damagesinduced by the declaration of bankruptcy will surpass what could have happened if he had simply decided to seek $8 billion to reimburse creditors. And that’s exactly what he’s trying to do right now:
“I have two weeks to raise 8 billion dollarss. That’s basically all that matters for the rest of my life.»
Sam Bankman-Fried’s leaked messages therefore depict a man much more cynical and opportunistic than the image he sent back — especially on his alleged generosity. The fall was harsh, and particularly rapid for the one who was still considered a model in the ecosystem three weeks ago.
SBF’s candor is surprising, and it will do nothing to appease investors…Nor the new CEO of FTX, who was forced to distance himself from his predecessor:
(3/3) Mr. Bankman-Fried has no ongoing role at @FTX_Official, FTX US, or Alameda Research Ltd. and does not speak on their behalf.
—FTX (@FTX_Official) November 16, 2022
“Mr. Bankman-Fried has no current role at FTX, FTX US or Alameda Research,and he does not speak in their name.»
If some believed that the FTX affair would gradually calm down, this does not yet seem to be the case.
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Published by Editions Larousse
Source: Vox – Image: FTX
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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