Sam Bankman-Fried: I was Shocked by What Happened


Sam Bankman-Fried, the former CEO of FTX, who attended the Dealbook Summit, said he was shocked by what happened.

Speaking to CNBC’s Andrew Ross Sorkin, SBF expressed regret, stating that he did not do a good job:

“I have never tried to commit fraud on anyone. I saw a thriving business opportunity and was shocked by the events that took place.”

Sorkin asked SBF why FTX and SBF have the right to access customers’ money. The SBF responded as follows:

“I wasn’t running the Alameda and I didn’t know exactly what was going on. I didn’t know how big their position was. I’ve learned most of this in the last month.”

Sorkin said SBF attended the event via streaming from the Bahamas.

Sam Bankman-Fried also spoke about FTX US:

“The US platform is fully capable of paying, and they are funded. I believe that withdrawals can be opened and completed today”

SBF said it was unaware of what was happening in Alameda and stressed that in 2019, 40% of FTX volume came from Alameda. According to him, this rate decreased to 2% in 2022.

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