bankrupt cryptocurrency boss Sam Bankman-Fried said he hopes to start a new business to make enough money to pay back the victims of the FTX crash.
Bankman-Fried, 30, is facing several federal investigations into how his former company handled the funds.
Speaking on a luxury site in the Bahamas, the former billionaire denies the scam but says “I wasn’t as competent as I thought.”
He admits he was worried about a possible arrest while he was “thinking about it at night”.
It is estimated that over one million FTX users have their crypto wallets locked and unable to access their funds.
“I Will Try To Start A Business To Reimburse FTX Users”
Bankman-Fried invited the BBC to his residence complex in the Bahamas, where he still lives, and says he hopes to find a way to reimburse FTX users:
“I’m going to think about how we can help the world, and if users aren’t getting a lot of refunds, I’m going to think about what I can do for them. And at least I think I have a duty to FTX users to do the right thing as much as I can.”
When asked if he plans to launch a new business venture to earn the money to pay back investors, he said:
“I would give anything to be able to do that. And if I can, I will try.”
Bankruptcy lawyers have described the FTX scandal as “one of the most sudden and difficult collapses in corporate America’s history.” They accuse Bankman-Fried of running the company as “his own personal fiefdom.”
The US Senate Banking Committee is asking the former CEO to testify at next week’s hearings on the crashed stock market, and Bankman-Fried said he will attend the meeting on Friday.
“I Didn’t Scam”
A former FTX employee who has worked with Bankman-Fried told the BBC that he thinks the former CEO should be aware that Alameda Research is using FTX client funds.
In his recent interviews, he accused Bankman-Fried of lying, who said he was unaware of the cash and cryptocurrency flows between companies.
“No, that’s not true,” said Bankman-Fried, acknowledging that, as CEO, he was ultimately responsible for the misuse of funds. “One way or another, it’s my responsibility,” he said.
When asked if he was a swindler or incompetent, he replied, “I didn’t commit fraud on purpose, I don’t think I was cheating, I didn’t want any of this to happen. I certainly wasn’t as competent as I thought I was.”
His team says they had to move to an unknown location in his luxury resort due to “security concerns”.
“I Have 100 Thousand Dollars Left”
Bankman-Fried, who comes from a wealthy family, claims he is worried about his personal finances because he has no access to his bank accounts and has “less than $100,000 left.”
When asked if he had prepared for the possibility of being arrested and imprisoned, he said: “I meditate a bit at night, yes, but when I wake up during the day, I try to focus, be as productive as possible, and ignore things beyond my control.”
*Not investment advice.
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