“There’s a limit to what I can say and I can’t be as helpful as I’d like.“lamented the disgraced entrepreneur.
Since the failure of FTX, Bankman-Fried maintains that it was unaware that client funds were being redirected to its associated investment firm, Alamedaone of the main reasons that led to bankruptcy.
In a virtual interview broadcast live by the newspaper The New York Times in NovemberBankman-Fried said that did not “knowingly” mix fundsthat he was not the one who ran Alameda and that he has only been aware of what was happening in recent weeks, when the facts have been publicly revealed.
FTX filed for bankruptcy on November 11 and at the end of that same month, the new Company managers appeared for the first time in Delaware state bankruptcy court (USA) to begin the restructuring process.
The lawyers of the new board and its current manager, John RayThey hold that a “substantial amount” of company assets may have been stolen or are missing.
The new managers They have also reported that the company had a “total absence of corporate controls” and a lack of “reliable financial information.”
The platform, which It was valued at $32 billion.could have more than a million creditors all over the world. So far, the company has admitted that owes more than 3,000 million dollars to its top 50 creditors.
Nevertheless, Bankman-Fried blames the bankruptcy in part on the massive sale of cryptocurrencies which occurred at the beginning of the year. For the founder of the company, that sale cut FTX’s guarantee in half, to about $30 billion.
At that point, according to Bankman-Fried, the sale of cryptocurrencies continued, combined with a credit squeeze and a “flight of the bank,” which reduced the guarantee to 9,000 million before FTX filed for bankruptcy.
Source: Ambito
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