Bankman-Fried apologizes, says didn't 'try to commit fraud' / Photo: Craig Barritt - GETTY IMAGES NORTH AMERICA/AFP/File
-
Lethbridge students learn how city transit and transportation systems work
-
DoorDash shares rise as Instacart slips following $17 billion takeover plan
-
Horoscope for October 30, 2026: communication and patience shape the day
-
Amazon cloud business accelerates but shares drop on profit miss
-
Inkle buys Finally bookkeeping unit and expands India-based workforce
-
PI Industries plans Indian launch of Pioxaniliprole insecticide this rabi season
-
ISRO schedules NVS-03 navigation satellite launch for Friday
-
Asian equities diverge after mixed technology earnings and Fed rate decision
-
'Star Trek', 'X-Men' star Patrick Stewart dead at 86
-
Kuwait traffic authority cautions against hazard lights while driving in rain
-
Canada buying stake in AI firm Cohere to bolster tech sovereignty
-
Utah files criminal charges against prediction market Kalshi
-
Grieving Spain demands answers for latest rail disaster
-
Kuwait National Guard official visits member injured during training
-
Qatar prime minister tours Cityscape Qatar 2026
-
CNN Global Perspectives prepares Doha debut with international speaker lineup
-
Jazeera Paints showcases housing solutions at Build Your House 2026 in Qatar
-
Es’hailSat and Arabsat agree broader satellite and broadcasting cooperation
-
Google drags down Wall Street stocks
-
ECB says has tools to calm markets as French debt worries rise
-
Does White House ask AI to shape policy? Democrats want the receipts
-
IMF says engaging with Iraq on preparing new bailout program
-
ECB holds rates steady after Lagarde says to quit early
-
US economy posts strong growth, inflation stubbornly high in challenge to Trump
-
ECB chief Lagarde to step down early, triggering succession race
-
French businessman takes over 2030 Winter Olympics amid leadership turmoil
-
VW says 'no time to lose' to slash costs after 5.8 billion euro loss
-
Stock markets diverge on corporate earnings, tech jitters
-
Oil majors reap bumper profits as Mideast war drives prices
-
TotalEnergies profit hits record on high oil prices
-
Taiwan says Pakistan briefly closed airspace to Taiwanese flights
-
Afghanistan opium poppy cultivation surges despite Taliban govt ban: UN
-
Samsung logs record quarterly profits despite investor AI jitters
Bankman-Fried apologizes, says didn't 'try to commit fraud'
Former FTX Chief Executive Sam Bankman-Fried apologized Wednesday for a "lot of mistakes" in the abrupt collapse of the cryptocurrency firm and said he did not knowingly behave fraudulently.
"I didn't ever try to commit fraud on anyone," Bankman-Fried told the Dealbook conference on CNBC.
"I'm deeply sorry about what happened," Bankman-Fried said.
Bankman-Fried, appearing by video from the Bahamas, said he was "shocked" by many of the details that have surfaced since the cryptocurrency platform's collapse.
On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection while facing a large financing shortfall.
Much attention has focused on the relationship between FTX and Alameda Research, a trading house also owned by Bankman-Fried.
Bankman-Fried acknowledged an "embarrassing" lack of attention to conflict of interest between the two firms, but insisted that he was not abreast of the details on Alameda.
He said that he was surprised at the scale of Alameda's positions on FTX that were troubled and which ultimately stressed the firm.
"I didn't think it was existential for FTX," Bankman-Fried said of Alameda's financial stress, adding that he thought the problem would "end up having some small impact on FTX, but not a significant one, not one that hurt customers at all."
Financial media have reported that FTX executives knew the platform was using billions in customer funds to prop up Alameda.
Bankman-Fried said he didn't knowingly "comingle" funds between the two firms.
C.Smith--CPN
