Sam Bankman-Fried (SBF), former CEO of the now-collapsed cryptocurrency exchange FTX, said he wants to start a new business to generate funds to pay back victims of the company’s collapse.
Does SBF want to start a new business?
— Unchained Podcast (@Unchained_pod) December 11, 2022
busy with the BBC In the Bahamas, SBF denied any fraudulent activity but admitted to:
“I’m not as competent as I thought I was.”
It is estimated that over 1 million FTX users have been locked out of their cryptocurrency wallets and unable to access their funds.
When asked if it plans to create new businesses to make money to compensate FTX investors, SBF said:
SBF is set to testify before the U.S. Senate Banking Committee at a hearing on the collapsed exchange and faces several federal investigations into his former firm’s handling of funds.
A post that SBF is planning a new business to pay back victims of the FTX collapse first appeared on CryptoSlate, claiming it was “not committing fraud.”