Former FTX CEO Sam Bankman-Fried, aka SBF, has apparently begun embarking on an apology tour to redeem his image a month after FTX’s sudden implosion, which revealed misuse of client funds. and investors by the exchange.
On November 30, Bankman-Fried made his first live public appearance since the FTX collapse, answering a series of questions during the DealBook Summit in New York. In the interview, Bankman-Fried claimed to have “unknowingly mixed the funds” between Alameda and FTX client funds. He shared:
“I mixed funds without knowing it. […] I was frankly surprised at how big Alameda’s position was, which points to another oversight failure on my part and not appointing someone to primarily handle that.”
In another interview aired on the morning of December 1 on Good Morning America, Bankman-Fried denied any knowledge of the “misuse” of client funds. According to him, he was not aware that FTX client deposits were used to pay off Alameda Research’s creditors, as Alameda Research CEO Caroline Ellison claimed.
In a Twitter Space hosted on December 1 with IBC Group founder and CEO Mario Nawfal, Bankman-Fried returned to plead that he did not know what was happening with his companies. When asked about what had really happened, his answers were very vague. “I, you know, basically, and I have to point this out by saying, unfortunately, I don’t have access to most of the data right now,” she said.
Following Bankman-Fried’s denial and apology media tour, the crypto community has taken to social media to express their feelings on the matter.
CNN host Mary Katharine Ham shared that she thought the media has been more hostile to Elon Musk than to “supervillain” Sam Bankman-Fried who lost billions of dollars in “the life savings of women.” people”. “The tone is pretty amazing,” she said in reaction to the tone of Bankman-Fried’s Good Morning America interview with George Stephanopoulos.
This says “supervillain,” but he’s not being treated like a supervillain. Media is more hostile to Musk for spending his own money than to SBF for losing a couple billion in people’s life savings. The tone is pretty astonishing. https://t.co/BiPhWfW0rJ
—Mary Katharine Ham (@mkhammer) December 1, 2022
Lefteris Karapetsas shared in reaction to NYT’s DealBook Summit interview; “A man who stole $10 billion, Sam Bankman-Fried was just interviewed, portrayed almost as a victim and got a round of applause at the end. Still free and well. Aaron Swartz, who downloaded academic records to share with the world got $ 1 million fine and 35 years in prison. This led him to take his own life.”
A man who stole $10B, @SBF_FTX just got interviewed, portrayed almost as a victim and got an applause at the end
Still free and fine.
Aaron Swartz, who downloaded academic journals to share with the world got $1m in fines and 35 yrs in prison. This lead him to take his own life
— Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) November 30, 2022
Bitcoin enthusiast and owner of the Twitter account “@DU09BTC” also reacted to the NYT DealBook Summit interview by saying, “Imagine getting a round of applause for creating a $10 billion ponzi. The world has lost the contact with reality. “
Imagine receiving a round of applause for creating a 10 billion dollar ponzi.
The world has lost touch with reality. #SBF #FTT #FTX pic.twitter.com/UrNYRfpTsA
— DuoNine | discord.gg/ycc (@DU09BTC) December 1, 2022
A Twitter user by the name of “Wall Street Silver” tweeted: “Sam Bankman-Fried: ‘Hope I get nothing at the end of this.’ I have no doubt he has over $100 million stashed somewhere. He he was “borrowing” billions for his personal investments. He has many investment trusts abroad. Some of which are NOT bankrupt.”
SBF:
“I expect I’m gonna have nothing at the end of this.”I have no doubt that he has $100+ million tucked away somewhere. He was “borrowing” billions for his personal investments from him. He has many offshore holding corps. Some of which are NOT in bankruptcy.pic.twitter.com/H2nvelTiJ1
— Wall Street Silver (@WallStreetSilv) December 1, 2022
A developer with the username “Schetty” compared Bankman-Fried’s performance in the interview to that of accused child murderer Casey Anthony. He shared, “Watching the Bankman-Fried interview is like watching the Casey Anthony documentary. They’re so mechanical, they’re so inauthentic in what they’re saying. If you’re feeling any emotion at all, it slows people down. The way you express it is a Subjective matter apart”.
watching SBF’s interview is kind of like watching Casey Anthony’s documentary. They’re so mechanical, they’re so inauthentic in their delivery. If you feel any emotion, at all, it slows people down. The way it is expressed is a separate subjective matter.
— naomi (,) (@schetty) December 2, 2022
Following the Bankman-Fried’s recent public appearancesGalaxy Digital’s Mike Novogratz unleashed a wave of criticism of the former CEO for his interview with Andrew Ross Sorkin at the New York Times annual DealBook summit on November 30.
Speaking to Bloomberg, Novogratz called Sam Bankman-Fried “delusional” after his statement in the live interview that he never tried to commit fraud.
Novogratz also echoed the sentiments of many in the cryptocurrency community, calling for jail time for the former FTX CEO, saying:
“The reality is that Sam and his henchmen perpetuated a fraud. He stole money from people, people should go to jail.”
Galaxy Digital is among the victims of the FTX bankruptcy, having disclosed a $76.8 million exposure to the bankrupt company.
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