Sam Bankman-Fried Claims He Regrets Filing for Chapter 11 Bankruptcy

Sam Bankman-Fried Claims He Regrets Filing for Chapter 11 Bankruptcy

Bankman-Fried admits to making many mistakes but believes that the biggest one was filing for Chapter 11 bankruptcy.

Sam Bankman-Fried, a founder and former chief executive officer (CEO) of FTX, reportedly regrets filing for Chapter 11 bankruptcy.

In an interview with VOX reporter Kelsey Piper, the now-former crypto exchange FTX CEO Sam Bankman-Fried discussed many topics, including filing for bankruptcy, FTX hack, regulations, ethics, and gambling “with customer money.”

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The interview, dubbed “Sam Bankman-Fried tries to explain himself,” contained screenshots from the reporter's Twitter conversation with Sam Bankman-Fried.

In the conversation with Kelsey Piper, Bankman-Fried reveals that he regrets nothing more than filing for Chapter 11 bankruptcy. The man admitted making many mistakes, stating: “I f*cked up big multiple times,” but filing for bankruptcy was apparently his biggest mistake. The former FTX CEO claims that he did what everyone told him to do.

The man claims that if he hadn’t filed for bankruptcy, “everything would be ~70% fixed right now,” with withdrawals opening in a month. FTX’s founder continued his thought, adding:

But instead I filed, and the people in charge of it are trying to burn it all to the ground out of shame.

Sam Bankman-Fried claimed that despite filing for Chapter 11 bankruptcy, he will still attempt to gather $8 billion worth of funding, stating that it is “basically all that matters for the rest of my life.”

In the extensive interview, the former FTX CEO shared his take on regulations, claiming that his push for crypto regulations was “just PR.”

F*ck regulators, they make everything worse, they don’t protect customers at all.

However, after the interview hit the public, Bankman-Fried used Twitter to alter his statements regarding crypto regulators. On November 16th, the man highlighted that “it’s really hard to be a regulator” because they have to make regulations for the industry, which is evolving at an extraordinary speed.

Moreover, during the interview, Sam Bankman-Fried confirmed that FTX was hacked, assuming that the malicious actor is an “ex-employee, or malware on an ex-employee’s computer.”

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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