Ex-FTX boss Bankman-Fried denies committing fraud – Saudi Gazette

Ex-FTX boss Bankman-Fried denies committing fraud – Saudi Gazette

SAN FRANCISCO – Sam Bankman-Fried, the former chief executive officer of crypto exchange FTX, has denied committing fraud.

The man once hailed as a legendary figure in the crypto industry told The New York Times he had had a "bad month" and had almost no money left.

The global crypto exchange, which was at one point valued at $32bn (£26.5bn), collapsed earlier this month.

Many investors have not been able to withdraw their funds from the now-bankrupt platform.

Bankman-Fried also said his lawyers had advised him not to speak publicly but he had ignored their advice.

He denied having moved any personal money out of FTX himself - saying he now has "close to nothing."

Speaking from The Bahamas, he said he had one credit card left which had around $100,000 on it.

In the interview he said he had not deliberately misled investors.

"I didn't ever try to commit fraud," he said.

However, asked several times about details of money movements between FTX and other entities, including the trading firm he owned, Alameda Research, he at times seemed sketchy in detail.

He also said the company had indulged in "greenwashing" where firms engage in environmental projects for publicity.

However, he says, he underestimated the amount of cash needed to cover