Crypto community weighs in on SBF’s ‘apology tour’

Crypto community weighs in on SBF’s ‘apology tour’

by Virtusenews
4. December 2022
Crypto community weighs in on SBF’s ‘apology tour’

The former CEO of FTX, Sam “SBF” Bankman-Fried, has seemingly begun to embark on an apology tour to redeem his image a month after the sudden implosion of FTX, which revealed that the exchange had been improperly using customer and investor funds.

OnNov. 30, Bankman-Fried made his first live public appearance since the collapse of FTX — answering a number of questions during the DealBook Summit in New York. During the interview, Bankman-Fried claimed to have “unknowingly commingled funds” between Alameda and customer funds at FTX. He shared:

 “I unknowingly commingled funds. […] I was frankly surprised by how big Alameda’s position was, which points to another failure of oversight on my part and failure to appoint someone to be chiefly in charge of that.”

In another interview with Good Morning America that aired on Dec. 1, Bankman-Fried denied any knowledge of the “improper use” of customer funds. According to him, he had no knowledge of FTX customer deposits being used to pay Alameda Research’s creditors, as claimed by former Alameda Research CEO Caroline Ellison.

In a Twitter Space hosted on Dec. 1 with IBC Group founder and CEO Mario Nawfal, SBF once again pleaded ignorance about what was occurring with his companies. When asked about what actually happened, his responses were very vague. “I, you know, basically, and I should caveat this by saying that I, unfortunately, don’t have access to most of the data right now,” he said.

Following SBF’s denial and media apology tour, the crypto community has taken to social media to express their sentiments about it all.

Mary Katharine Ham, a CNN contributor, shared that she thought the media had been more hostile to Elon Musk than to the “supervillain” SBF, who lost billions of dollars of “people’s life savings.” “The tone is pretty astonishing,” she said in reaction to SBF’s Good Morning America interview with George Stephanopoulos.


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