Saturday, June 3, 2023

FTX CEO Sam Bankman-Fried Admits He “F—ed Up” as Billionaire Crypto Company Nears Collapse

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Crypto Billionaire Sam Bankman-Fried is trying to cushion his fall while admitting that he “f—ed up.”

FTX, headquartered in the Bahamas, faces near collapse and Bankman-Fried is searching for another crypto company to rescue his digital asset company which faces possible bankruptcy.

He tweeted on Thursday, “I’m sorry. That’s the biggest thing. I f—ed up and should have done better.”

Bankman-Fried hoped that the largest crypto company Binance would rescue his company, but Binance CEO Chinese-born Changpeng Zhao, backed out of the deal to acquire FTX.

“I also should have been communicating more very recently,” Bankman-Fried said. “Transparently–my hands were tied during the duration of the possible Binance deal; I wasn’t particularly allowed to say much publicly. But of course, it’s on me that we ended up there in the first place.”

Bankman-Fried was crypto’s poster boy but he is now trying to stave off bankruptcy and needs about $8 billion to keep afloat.

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