Asked how he’ll repay FTX customers, Sam Bankman-Fried said…
Sam Bankman-Fried, once crypto's golden boy, has quickly seen public trust in him erode. While facing possible arrest in the FTX crisis, he has made numerous statements claiming responsibility for the implosion but denying that he knowingly committed fraud.
Bankman-Fried says he will do whatever it takes to pay back those affected by the collapse of his crypto exchange. He is accused of secretly transferring the funds of customers to FTX's sister firm Alameda Research, that has a reputation of making risky bets.
According to the BBC, over a million FTX customers have lost access to their funds. Bankman-Fried told the broadcaster he is mulling how he can do his best for them.
"I'm going to be thinking about how we can help the world and if users haven't gotten much back, I'm going to be thinking about what I can do for them," he said. "And I think at the very least I have a duty to FTX users to do right by them as best as I can."
Bankman-Fried, who says he has just $100,000 left, said he would "give anything" to be able to set up a new venture to earn money and repay customers.
"I'm going to try if I can," he told the BBC.
Bankman-Fried is set to testify on Tuesday before the US House Financial Services Committee about his crypto empire's quick meltdown.
The committed will also hear from FTX's new CEO John Ray, who made sharp remarks about the crypto exchange in bankruptcy filings.
Ray, a restructuring expert, criticised how FTX was controlled by a small group of "inexperienced and potentially compromised" people, a reference to Bankman-Fried and his inner circle.
"Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray
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