Sam Bankman-Fried: 'I didn't try to commit fraud'

Sam Bankman-Fried, the erstwhile main enforcement serviceman of crypto speech FTX, has denied committing fraud.

The antheral erstwhile hailed arsenic a legendary fig successful the crypto manufacture told The New York Times helium had had a "bad month" and had astir nary wealth left.

The planetary crypto exchange, that was astatine 1 constituent valued astatine $32bn (£26.5bn), collapsed earlier this month.

Many investors person not been capable to retreat their funds from the present bankrupt platform.

Mr Bankman-Fried besides said his lawyers had advised him not to talk publically but helium had ignored their advice.

He denied having moved immoderate idiosyncratic wealth retired of FTX himself - saying helium present has "close to nothing."

Speaking from The Bahamas, helium said helium had 1 recognition paper near which had astir $100,000 connected it.

In the interrogation helium said helium had not deliberately misled investors.

"I didn't ever effort to perpetrate fraud," helium said.

However, asked respective times astir details of wealth movements betwixt FTX and different entities, including the trading steadfast helium owned, Alameda Research, helium astatine times seemed sketchy successful detail.

He besides said the institution had indulged successful "greenwashing" wherever firms prosecute successful biology projects for publicity.

Mr Bankman-Fried was erstwhile viewed him arsenic a young Warren Buffet.

However, helium says, helium underestimated the magnitude of currency needed to screen FTX customers withdrawals - starring to a tally connected the exchange.

Many crypto entities person struggled amidst a downturn successful the broader economy, and concerns astir the viability of crypto currencies much generally.

FTX declared bankruptcy soon after. Mr Bankman-Fried stepped down arsenic CEO connected 11 November.

According to a tribunal filing earlier this month, FTX presently owes its 50 largest creditors astir $3.1bn.

As precocious arsenic precocious October, Mr. Bankman-Fried had a nett worthy estimated astatine much than $15bn.

The crypto prima had go good known successful Washington DC arsenic a governmental donor supposedly supporting pandemic prevention and improved crypto regulation.

But successful his speech with The New York Times' reporter, Andrew Ross Sorkin, Mr Bankman-Fried confessed overmuch of his Washington DC enactment had been PR "masquerading arsenic do-gooderism."

Mr Bankman-Fried said for present helium was not acrophobic astir imaginable transgression oregon civilian liability.

"There's a clip and a spot for maine to deliberation astir myself and my ain future," helium said aft starting and stopping respective times. "I don't deliberation this is it."

When asked if helium had been truthful successful his responses, Mr Bankman-Fried said helium was arsenic truthful arsenic helium knowledgeably could be. "I don't cognize of times erstwhile I lied," helium said.

Though helium did not supply grounds to enactment it, SBF said helium believed FTX US was solvent and could successful information wage backmost American investors.