He is the founder cryptocurrency Despite being fired from the giant, Sam Bankman-Fried told CNBC he’s trying to seal a multi-billion dollar deal to bail out FTX, which filed for Chapter 11 bankruptcy protection earlier this month.
In a brief interview with CNBC, the founder of FTX did not disclose the collapse of the crypto company and declined to elaborate on what he knew beyond that his obligations were “billions of dollars bigger than he thought.”
“I think we should try to provide as much value to users as possible,” Bankman-Fried told CNBC. I hate what happened and I would love to be more careful.” said.
Former CEO Sam Bankman-Fried: “FTX Has Billions of Dollars in Non-Partner Companies”
Bankman-Fried also argued that there are “billions of dollars” in customer assets in “segregated balances” regions, including the United States, and said there are “billions of dollars of potential financing opportunities out there” to compensate customers.
The company, once a $32 billion global empire, had collapsed in recent weeks. Rival cryptocurrency exchange Binance had signed a letter of intent to buy FTX’s international businesses as it was experiencing a liquidity crunch. However, his team decided the exchange was unrecoverable, and a Binance executive described the balance sheet as “a bomb went off”.
Cryptocurrency firm FTX filed for Chapter 11 bankruptcy protection on November 11 and appointed John Ray III as the new CEO, whose corporate experience includes Enron’s restructuring after its historic collapse.
*Not investment advice.
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