FTX founder SBF said that filing for bankruptcy was a mistake as the exchange had $4 billion liquidity 8-minutes after filing for Chapter 11.
The founder of crypto exchange FTX, Sam Bankman-Fried, has been appearing on Twitter sporadically and is scheduled to speak at the New York Times’ annual DealBook Summit on Wednesday, November 30. This will be his first public appearance since the scandal.
Tiffany Fong’s phone interview with SBF was just revealed, which allegedly took place 5 days after FTX declared bankruptcy on November 11. In this interview, a few of SBF’s claims about fund recovery sound far-fetched.
It is important to note that SBF is no longer in charge of any FTX entities and has been kicked out of the company’s operations. However, he said users of FTX US will get their money back in full. In a telephonic interview, SBF added:
“If nothing happens, if I can never do anything again… FTX users will get a dollar on the dollar, FTX will get 25 cents on the dollar”.
He continued by saying that filing for Chapter 11 bankruptcy was a mistake and he would do anything to correct it. When asked about bankruptcy during his interview, SBF said: “You can blame the fucking idiot you’re talking to for actually filing this document, I should have just said no… it was the right thing to do to not file – I would do anything to unfile that right now”.
In a humorous statement, SBF said: “8 f*cking minutes after I filed for bankruptcy $4B more came in of liquidity”.
When queried about why he donated such a large sum of money to the Democratic Party before the mid-term elections, SBF responded that he had given to the Republican Party as well. “I actually donated similar amounts to both parties this year,” he commented.
Furthermore, the disgraced founder added that all Republican donations were kept in the dark because if media catches wind of it, they donation recipient would be heavily scrutinized.
Lastly, he noted that FTX’s original FTT token had a stronger value proposition than most other tokens due to its buy-and-burn process. comment on the $00 million hack, SBF said it was either an ex-employee or someone who installed malware into an ex-employee’s computer. The latest info indicate that the hacker holds 255 BTC on crypto exchange OKX.
Crypto enthusiasts are skeptical of SBF’s words after everything that has unfolded. Amid all the criticism directed at SBF, Three Arrows co-founder Su Zhu hints at making a comeback.