FTX CEO Sam Bankman-Fried (“SBF”) has been attracting consideration for the previous two days with a thread of mysterious tweets within the type of single letters. A couple of hours in the past, he made it full:
WHAT HAPPENED? [NOT LEGAL ADVICE. NOT FINANCIAL ADVICE. THIS IS ALL AS I REMEMBER IT, BUT MY MEMORY MIGHT BE FAULTY IN PARTS.]
As Bankman-Fried promised a number of days in the past, sooner or later he’ll give his perspective on the story of FTX’s downfall. An article printed late yesterday afternoon by the New York Instances (NYT), which interviewed SBF, falls far wanting these claims.
The article, titled “How Sam Bankman-Fried’s Crypto Empire Collapsed,” doesn’t even point out the phrases “Fraud,” “Enron,” “Crime,” “Illiquid,” “Stolen,” “Hidden,” Felony,” or “Again door.”
Because the NYT studies, SBF gave interview on Sunday that lasted till after midnight. Throughout it, he appeared “surprisingly calm” in keeping with journalist David Yaffe-Bellany. “You’ll’ve thought that I’d be getting no sleep proper now, and as a substitute I’m getting some,” SBF stated. “It could possibly be worse.”
Additional, SBF expressed little regret, stating that FTX “expanded too rapidly” and that he “missed the warning indicators.” On the similar time, he supplied solely very squishy and shifty particulars about his dealing with of FTX purchasers’ funds.
Alameda had amassed a big margin place on FTX, which primarily meant it had borrowed cash from the alternate, Bankman-Fried stated. “It was considerably bigger than I had thought it was,” he stated. “And in reality the draw back danger was very important.”
“Had I been a bit extra targeting what I used to be doing, I’d have been in a position to be extra thorough,” SBF additional elaborated. “That may have allowed me to catch what was occurring on the chance facet.”
These are scary phrases from an actor the cryto neighborhood now doesn’t imagine a phrase of after it was revealed in current days that SBF and his closest confidants put in a backdoor to falsify FTX and Alameda’s books.
The backdoor was so good that even essentially the most respected traders, corresponding to BlackRock or Sequoia Capital, had been fooled.
Crypto Leaders And Elon Musk Reply To FTX CEO
Main crypto personalities in addition to Elon Musk expressed harsh criticism on the article. Musk wrote, “Why the puff piece NY Instances?”. A couple of hours earlier, Musk commented on a tweet that raised the query of whether or not the Democratic Social gathering used FTX to launder cash?
A query value asking
— Elon Musk (@elonmusk) November 14, 2022
Kraken founder Jesse Powell had sturdy phrases for the NYT, stating that media have to be held accountable for his or her function in legitimizing and elevating the standing of this bancrupt ponzi.
Even now, they downplay the story. On the similar time they had been pumping the FTX rip-off, they had been writing defamatory gossip items about trade stalwarts, driving their audiences away from protected, dependable and confirmed venues. It’s too beneficiant to name these individuals clowns. They betray their obligation.
Zooko Wilcox, CEO of the Electrical Coin Firm behind ZCash, additionally accused the NYT of “disgusting complicity.”
He has ruined the lives of numerous individuals by way of theft and fraud, and the NYT is now serving to him delay or evade justice by whitewashing him of their revered, influential newspaper. I doubt that that is only a mistake on their half.
Ryan Selkis, founding father of Messari, added that the NYTimes was more durable on Brian Armstrong on the time for saying “we shouldn’t speak politics at work” than it was on SBF, who embezzled $10 billion in consumer funds.
At presstime, the Bitcoin worth confirmed a slight upward pattern, following the weekend pump by Elon Musk. The Tesla CEO tweeted: “BTC will make it, however could be a protracted winter”.