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Sam Bankman-Fried speaks on FTX collapse: “I didn’t ever try to commit fraud”

Journalist Andrew Ross Sorkin sitting on stage at a conference while interviewing Sam Bankman-Fried, who appeared remotely and was seen on a giant video screen.

Enlarge / Andrew Ross Sorkin interviews Sam Bankman-Fried at The New York Times DealBook conference on November 30, 2022, in New York City. (credit: Getty Images | Thos Robinson )

FTX co-founder and former CEO Sam Bankman-Fried was interviewed at a New York Times conference yesterday, speaking publicly despite the advice of lawyers urging him to remain silent about the collapsed cryptocurrency exchange. As the FTX bankruptcy unfolds and lawmakers urge US authorities to file criminal charges, Bankman-Fried said he did not intentionally commit fraud.

“Clearly I made a lot of mistakes,” Bankman-Fried said. “There are things I would give anything to be able to do over again. I didn’t ever try to commit fraud on anyone. I was excited about the prospects of FTX a month ago. I saw it as a thriving, growing business. I was shocked by what happened this month.” Bankman-Fried also said he “didn’t knowingly commingle funds” with Alameda Research, a related firm that he co-founded and owned a portion of.

Bankman-Fried was interviewed by NYT columnist Andrew Ross Sorkin for the news organization’s DealBook Summit (see transcript). Bankman-Fried was in the Bahamas and appeared on a video feed.

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