The founder of the FTX crypto exchange and its former CEO, Sam Bankman-Fried, considers his “biggest” mistake he made after the collapse of the platform to be filing for bankruptcy under Chapter 11 of the US Bankruptcy Code. Speaking on Twitter with Vox reporter Kelsey Piper, Bankman-Fried said he “fucked it up”, more than once.
“Do you know what was, perhaps, my biggest miscalculation? asked Bankman-Fried. “Just one thing everyone told me to do.” When he said this, he was referring to filing for bankruptcy. According to Bankman-Fried, those who are now responsible for the state of affairs in the company are “trying to burn it to the ground.”
FTX Trading, which owns the FTX crypto exchange, as well as West Realm Shires Services Inc., Alameda Research and about 130 other companies affiliated with it, filed for bankruptcy last week after the collapse of the crypto exchange in connection with the resulting financial gap of $ 8 billion. This happened shortly after Bankman-Fried stepped down as CEO of FTX. He was succeeded by restructuring specialist John J. Ray III, a lawyer who previously oversaw the Enron bankruptcy.
Bankman-Fried told Vox that “it would be 70% fixed by now” had FTX not filed for bankruptcy. According to him, if this had not been done, the exchange would have already unblocked the withdrawal of funds from the accounts, and in a month everything would be in order. Bankman-Fried later revealed on Twitter that his conversation with a Vox correspondent was not for public disclosure.
Commenting on the Bankman-Fried statements, the current CEO and director of restructuring of the bankrupt cryptocurrency exchange FTX, John Ray, was brief. He simply noted that Bankman-Fried is no longer with FTX, FTX US, and Alameda Research, and therefore can no longer act on their behalf.
If you notice an error, select it with the mouse and press CTRL + ENTER.