Former FTX CEO Sam Bankman-Fried (SBF) has revealed that he wants to start a new company in hopes of making money to pay back FTX customers. “I would give anything to be able to do that. And I’ll try if I can“, he said.
SBF wants to launch a new business
Sam Bankman-Fried (SBF), former CEO of collapsed crypto-currency exchange FTX, was asked in an interview with the BBC, published on Saturday, if he would consider launching a new business venture to earn the money needed to pay back FTX investors and customers. The former FTX boss replied:
I would give anything to be able to do that. And I will try if I can.
He added: “I’m going to think about how we can help the world and if the users haven’t gotten much feedback, I’m going to think about what I can do for them. And I think at the very least, I have a duty to the FTX users to do my best for them.“
FTX filed for bankruptcy on November 11 and an estimated one million customers and investors lost billions of dollars in the stock market collapse. However, Bankman-Fried insisted that he did not knowingly commingle client funds or commit fraud. SBF told the media:
I didn’t knowingly commit fraud, I don’t think I committed fraud, I didn’t want any of this to happen. I certainly wasn’t as competent as I thought I was.
Bankman-Fried was also asked if he was prepared for the possibility of going to jail. The former FTX CEO replied:
There are times when I ruminate at night, yes, but when I get up during the day, I try to focus, be as productive as possible, and ignore things that are out of my control.
At least one person said he would support SBF again if he had another business. Shark Tank star Kevin O’Leary, aka Mr. Wonderful, thinks Bankman-Fried is one of the best traders in the crypto space. He and hedge fund manager Bill Ackman are convinced that the former FTX chief did not knowingly commit fraud. O’Leary was paid $15 million by FTX to become the exchange’s spokesperson. The Shark Tank star also nearly got $8 billion to save FTX before its collapse.
On Monday night, the Attorney General’s Office & Ministry of Legal Affairs announced that Bankman-Fried was arrested by the Royal Bahamas Police Force after the United States filed criminal charges against him.