The former CEO of the failed cryptocurrency exchange FTX said Wednesday that he did not 'knowingly' misuse customers' funds, and said he believes his millions of angry customers will eventually be made whole.
NEW YORK — The former CEO of the failed cryptocurrency exchange FTX said Wednesday that he did not"knowingly" misuse customers' funds, and said he believes his millions of angry customers will eventually be made whole.
“I didn’t ever want to commit fraud on anyone. I was shocked at what happened this month,” Bankman-Fried said. Bankman-Fried said that he took responsibility for FTX's collapse and said he failed to grasp the amount of risk FTX and Alameda were taking on across both businesses. One of the accusations made against Bankman-Fried is that he arranged for Alameda to use customers' assets in FTX to place bets in the market. Bankman-Fried told Sorkin he did not “knowingly” co-mingle customers' assets with Alameda.
“Whatever happened, why it happened, I had a duty to our stakeholders, our customers, our investors, the regulators of the world, to do right by them,” Bankman Fried said.
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