Sam Bankman-Fried, who until November 11 was CEO of the collapsed FTX, did not want to miss the opportunity to talk with Kelsey Piper, from vox, to give his opinion on the cryptocurrency market, its regulators, and the company that he himself filed for bankruptcy after the failed attempt to raise the $8 billion needed to save it. The also well-known SBF, in some conversations that he had with the journalist through direct messages on Twitter, says feeling sorry for declaring FTX bankrupt and claims, among other things, that regulators “make everything worse.”
One of the most outstanding topics of the interview is, without a doubt, theor what happened to FTX, one of the —at least until now— most relevant companies in the cryptocurrency market. In conversations, Bankman-Fried tells Piper that if FTX hadn’t filed for bankruptcy, he could have fixed a big part of the problem that plagued the company, even though he claims to have “screwed it up. big time Repeatedly”. He claims, however, that “The people in charge [de FTX] is trying to burn it all to the ground out of shame”, and that “His biggest screw up” and the only one that everyone told him to do, was to file for Chapter 11 of the United States Bankruptcy Law.
Sam Bankman-Fried, on the other hand, mentioned Changpeng Zhao (also known as CZ), founder of Binance, when the journalist from vox he asked aboute “doing unethical things for the common good”. “A month ago CZ was a walking example of ‘don’t do unethical things or your money is worthless,’” says the former FTX CEO. “He is now a hero.” “Is it because he is virtuous? Or because he had the biggest balance sheet, and that’s why he won? ”, he continues.
Former FTX CEO Says Regulators “Make Everything Worse”
SBF too has lashed out at market regulators alleging that “they don’t protect customers at all” and that the only thing they do is that “everything is worse”. He has also criticized the way in which they control the cryptocurrency market, which is based on “only ‘doing more business’ against ‘doing less business’ and ‘putting more moats’ against ‘putting fewer moats'” – he It does not distinguish “between good and bad”.
Meanwhile, Sam Bankman-Fried, who has been replaced by John J. Ray III, has claimed in a post on Twitter that his only goal now is to “do what’s right for customers.” It is unknown, yes, what will happen to the funds of the clients trapped in FTX.