Former FTX CEO Sam Bankman-Fried (SBF) Since his exchange fell apart a few weeks ago, he has spoken at the New York Times Dealbook Summit, sat down with Good Morning America host George Stephanopoulos, and recently gave an interview with New York Magazine. While conducting all these interviews, SBF has revealed almost nothing, with crypto proponents believing that SBF is simply being portrayed as the “boy next door” who made a bad mistake. , people are wondering why the FTX co-founder is being treated so sensitively.
The crypto community believes that SBF’s media tour is simply meant to “clean up his image”, and cast him as the “boy next door” who made a mistake. Describing
Sam Bankman While Freezing (SBF) with New York Times contributor Andrew Ross Sorkin, Good Morning America’s George Stephanopoulos, and New York Magazine’s Jen Wiesner Having said that, there are still many unanswered questions in the cryptocurrency community. For example, in a dealbook conversation, SBF claimed that it “did not deliberately mix funds.” SBF apologized to the audience’s question as to why he decided SBF to steal their savings. “I deeply apologize for what happened,” he explained SBF at his Dealbook event.
If you look closely at the mainstream media you can see who gets paid to make sure#SBF has a very clean image .
— David Gokhshtein (@davidgokhshtein) November 23, 2022
After all of SBF’s interviews, the cryptocurrency communitySome wondered why he was being treated like the “boy next door.” Posts on social media show him dismayed that SBF received applause after the Dealbook event.
On SBF: Good Morning America: “I didn’t know that customer funds were being misused.”
Rather than risk going to jail, I’d rather be seen as an ignorant and incompetent CEO for the rest of my life, Amilite.
— Max Boonen (@maxboonen) Dec 1, 2022
“Several months ago, a Bahamian man was sentenced to two years in prison for theft. $6 worth of hot dogs,” tweeted one individual ,“SBF is a scammer who stole billions of dollars from millions of customers in past scams. He is now on a corporate media tour and is met with sympathy, admiration, [and] applause.”
The man who stole $10 billion,@ SBF_FTX interviewed, portrayed almost like a victim, applauded at the end
Still free and fine.
Download academic journal Aaron Swartz, who shared with the world, was fined $1 million and sentenced to 35 years in prison.
— Recruitment of Lefteris Karapetsas | @rotkiapp (@LefterisJP) November 30, 2022
So far, the SBF has blamed his bad luck on “improperly labeled accounting” practices. I don’t know how to code. He stressed that he “didn’t deliberately mix the funds,” but people familiar with the matter said SBF used his quantitative trading firm, Alameda Research, as a “risky bet.”
Another report stated that Alameda Research “has been lent out billions of dollars worth of client assets to fund , notes that he purchased a relatively unknown over-the-counter (OTC) desk. In an interview with New York Magazine, SBF was asked what happened to his supposedly lost $10 billion in client assets.
It is true that the SBF is getting a lot of applause in the media. I thought the Hunger Games was impossible fiction. Still here.
— Jeffrey A Tucker (@jeffreyatucker) December 1, 2022
“We should have done better accounting,” he said. SBF replied during an interview with Jen Wieczner. “There should have been better controls.” He also detailed an accounting error “when FTX didn’t have a bank account.” He noted that Alameda had significant margin positions and “couldn’t close in a fluid way to meet its obligations.”
Alameda’s margins will grow by mid-2022, he said, from a “moderately risky position” to simply “too large to manage in a liquidity crisis and
The SBF on Good Morning America on December 1, 2022 will be held if funds are transferred to Alameda. pic.twitter.com/uePr8kqxE9
— Yea Bro Mike (@YeahBroXRP) December 1, 2022
SBF claims that Terra’s LUNA was not involved in Alameda’s bad bet. But they happened in roughly the same timeframe. As far as improper accounting done while FTX failed to get a bank account, somehow a large debt position tricked executives into saying “the actual position was billions of dollars bigger than it appeared”.
Similar to the NYT Dealbook event, SBF said one of the problems is that Alameda is not under his control and has not run the company for years. In his SBF interviews, he often forgets the fact that FTX, Token FTT, and Alameda Research have been around since his 2019. While speaking with Wieczner, SBF said: leverage. Alameda is not a company I monitor every day. It’s not the company I run. Not the company I have been running for the last few years.
SBF told the audience at its Dealbook event that his company noticed things were going from bad to worse on Nov. 6, while the former FTX CEO had $3 in BTC., which does not explain what happened to $133 million, disappeared between November 6th and November 7th, 2022. They were separate entities.
To this day, there are still many unanswered questions and people believe that SBF’s media tour isused to clean his image. To up, time and time again, it just hasn’t cut the mustard, and the crypto community is demanding tough answers from the now-disgraced crypto exchange frontman. However, the community does not expect such an answer to come from SBF’s current media tour.
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