Embattled chief executive of FTX Sam Bankman-Fried, on Wednesday, apologised saying that “he did not knowingly behave fraudulently”
The former FTX boss while speaking at the Dealbook conference hosted by CNBC and The New York Times, said “I didn’t ever try to commit fraud on anyone,”
Bankman-Fried said, “I’m deeply sorry about what happened.”
On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection while facing a large financing shortfall and a deluge of withdrawals from panicked customers. The firm at its peak had been worth some $32 billion.
At the time, FTX had taken some $10 billion in customer funds without authorization, according to the Wall Street Journal.
Much attention has focused on the relationship between FTX and Alameda Research, an affiliated trading firm.
Bankman-Fried acknowledged an “embarrassing” lack of attention to conflicts of interest between the two firms, but insisted that he was not abreast of the details on Alameda and did not run Alameda.
Bankman-Fried on Wednesday said he was not aware that he was the subject of a criminal probe, adding that he rejected his lawyer’s advice to stay silent now.
“I have a duty to explain what happened,” he said. “And I think I have a duty … if there is anything I can do to try and help customers out here.”
Bankman-Fried suggested US investors in FTX could recover their losses, but did not explain how this might happen.
