In an interview with the BBC, Sam Bankman-Fried once again returned to the crisis caused by the FTX crash. If he again minimizes some of his faults, he admits that he was not as competent as he thought.
Sam Bankman-Fried “did not knowingly commit fraud”
Sam Bankman-Fried (SBF) gave a new interviewand this time it’s with our colleagues from the BBC in a luxury residential complex in the Bahamas.
The result is a five-minute video, where SBF appears nervous and shaky, answering the journalist’s questions. Once again, the interested party plays the card of the error of judgment, rather than the fault of management. He even goes so far as to believe that if he has committed illegal actions, it is allegedly unintentional :
“I didn’t knowingly commit fraud, I don’t think I committed fraud, I didn’t want it to happen. I was certainly not as competent as I thought. »
If he gives the impression of trying to clear himself of this debacle, he nevertheless recognizes that as CEO, it is up to him to bear the responsibility.
Moreover, when the journalist asks him if he will create a new company in the cryptocurrency industry, he replies that he doesn’t know yet. Although the prospect of a return seems difficult to imagine, he says that if it were to be the case, it would be with “high standards of transparency“. With regard to reimbursing its customers, SBF claims want to do one’s best :
“I would give anything to be able to do it. And I will try if I can. »
👉 To go further – Learn how to secure and store your cryptocurrencies away from centralized platforms
The best way to secure your cryptocurrencies 🔒
🔥 The world leader in crypto security
Truth or communication strategy?
If it is not for us to question the word of Sam Bankman-Fried, the fact is that he himself admitted having adopted certain positions solely for the purpose of communication. From there it becomes hard to trust blindly according to the character.
During the interview, SBF talks about its own financial difficulties. His interlocutor notes, however, that he comes from a wealthy family, which is able to help him and that he won’t end up on the street. The ex-CEO of FTX claims that he “remains less than 100,000 dollarsof liquidity, and that he would not have access to his bank accounts.
Whatever the degree of truth of these remarks, as well as the pressure that actually weighs on Sam Bankman-Fried on a daily basis, this does not detract from the damage caused by the collapse of the platform. Remember that up to 50 billion dollars could be lost, and among them, the savings of more than a million users.
So it’s a crisis which will not be without consequencesmoreover when we can see certain anti-crypto personalities using it to question the entire ecosystem on mainstream media with relative objectivity.
👉 Related – Stanford Informs Sam Bankman-Fried’s Parents No Longer Teaching at University
Progress in the world of cryptocurrencies with Cryptoast experts 📘
Sources: BBC, Image: CoinTelegraph via Wikimedia Commons (CC BY 3.0)
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
398 items
