Speaking live at the New York Times Dealbook event, Sam Bankman-Fried declared that he did not “deliberately mix funds.”
“I was surprised at how big Alameda’s position was…I wasn’t trying to mix funds.”
SBF accused the fund of poor management when asked how he could accept the difference from his previous statement on Twitter that the FTX issue had come down to an “accounting error”. .
The SBF continued to refer to the failure of other cryptocurrency borrowing desks in 2022. According to SBF, Alameda had margin positions open at these desks, but after closing he moved to FTX.
“I believe there is a significant discrepancy between the actual position and the dashboard used to display the nature of Alameda’s position.”
Regarding Alameda, SBF appeared to distance themselves from the company, declaring that they “didn’t know exactly what was going on”. SBF has repeatedly said it made a “pretty big oversight” in managing funds between FTX and Alameda, but it relied heavily on Alameda’s court errors, not FTX’s.
The SBF admitted it was “embarrassed” over its failure to predict the size of the “market crash”.
This story is a work in progress and you can watch the live stream below.
The post, where SBF blamed Alameda, first appeared on CryptoSlate, claiming that “I deliberately did not mix the funds.”