SBF Calls Handing Over FTX His “Biggest Mistake”

[bonk]

Sam “SBF” Bankman-Fried, founder and former CEO of the collapsed crypto exchange FTX, says his “biggest mistake” during the $8 billion implosion was handing the company over to new management.

In an interview with Mother Jones published Friday, Bankman-Fried claimed that minutes after signing over FTX to current CEO John J. Ray III on Nov. 11, 2022, he received a call about a potential investment that “may have saved the company,” but it was too late to reverse his decision.

Bankman-Fried is serving a 25-year prison sentence for seven felony charges tied to FTX’s collapse, which prosecutors say misused customer funds to cover billions in losses at Alameda Research.

[kelson10]

It’s ironic hearing that now. The damage done goes far beyond one “mistake.”

[EmTeam]

Too little, too late. Accountability matters more than regretful statements.