Sam Bankman-Fried, the former CEO of FTX, came out pretty harsh with regulators in his interview.
In an interview with Vox reporter Kelsey Piper on Twitter, she made surprising statements.
Sam Bankman-Fried Turned Out Too Hard
San Bankman-Fried had some very harsh words on a question about the lobbying efforts of the stock market.
“Screw the regulators… they make everything worse”
With FTX’s problems spiraling out of control, SBF made some rather bizarre statements on Twitter. After the interview came to light, FTX had to make a statement that SBF is no longer affiliated with FTX, FTX US and Alameda.
In his interview, SBF emphasized that he regretted filing for bankruptcy and that if he had not regretted, 70% of the problems could have been fixed now:
“Instead, I sued, and those responsible are trying to tear everything down out of shame.”
Asked about what’s next, the SBF said it had two weeks to raise $8 billion.
“It’s basically the only thing that matters for the rest of my life. A month ago I was one of the world’s largest fundraisers. Now I’m someone’s wreck
I didn’t want to do stupid things, it had huge negative effects and he didn’t want to do it. Each individual decision looked good and I didn’t realize until the end how big their sum was.”
When asked about the source of FTX’s problems, he used the phrases “Distributed accounting + margin exchange”.
Regarding the question of whether clients’ funds were loaned out, he said:
“This is a complex situation. No, it was not loaned. It was messier and more organic than that.”
Finally, SBF said co-founder Gary Wang was scared, and engineering director Nishad Singh felt shame and guilt.
