{"id":1757262,"date":"2022-11-30T15:02:56","date_gmt":"2022-11-30T20:02:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1757262"},"modified":"2022-11-30T15:03:00","modified_gmt":"2022-11-30T20:03:00","slug":"i-dont-even-know-how-to-code-mit-grad-and-now-broke-crypto-ceo-sam-bankman-fried-tells-niche-vlogger","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/i-dont-even-know-how-to-code-mit-grad-and-now-broke-crypto-ceo-sam-bankman-fried-tells-niche-vlogger\/","title":{"rendered":"\u2018I Don\u2019t Even Know How To Code,\u2019 MIT Grad And Now-Broke Crypto CEO Sam Bankman-Fried Tells Niche Vlogger"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fi-dont-even-know-how-to-code-mit-grad-and-now-broke-crypto-ceo-sam-bankman-fried-tells-niche-vlogger%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1757262&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Former FTX CEO and alleged fraudster Sam Bankman-Fried revealed during a conversation with a <a href=\"http:\/\/dailywire.com\/topic\/cryptocurrency\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a> vlogger that he does not know how to code.<\/p>\n<p>FTX recently filed for <a href=\"https:\/\/www.dailywire.com\/news\/30-year-old-billionaire-loses-entire-fortune-overnight-as-his-bahamas-based-cryptocurrency-empire-implodes\" target=\"_blank\" rel=\"noopener\">bankruptcy<\/a> after users discovered that trading firm Alameda Research, a company run by former Bankman-Fried love interest Caroline Ellison, had allegedly been using funds from FTX to make investments. Tiffany Fong, who has 13,000 subscribers on YouTube, pressed the 30-year-old entrepreneur during the <a href=\"https:\/\/www.youtube.com\/watch?v=6DezodR9hNI\" target=\"_blank\" rel=\"noopener\">interview<\/a> on why his venture imploded in spectacular fashion.<\/p>\n<p>When asked about a reported backdoor that allowed him to alter the company\u2019s financial statements and move funds to Alameda Research without alerting other executives, Bankman-Fried denied that he created any such mechanism. \u201cThat I can tell you is definitely not true. I don\u2019t even know how to code,\u201d the Massachusetts Institute of Technology graduate responded. \u201cI literally never even opened the code for any of FTX.\u201d<\/p>\n<p>The admission from Bankman-Fried contrasts with <a href=\"https:\/\/www.dailywire.com\/news\/left-of-center-media-accepted-millions-from-democrat-donor-and-disgraced-crypto-wunderkind-sam-bankman-fried\" target=\"_blank\" rel=\"noopener\">descriptions<\/a> of his status as a cryptocurrency wunderkind. Michael Grimes, an investment banker with Morgan Stanley charged with helping Elon Musk acquire Twitter, had told the world\u2019s richest man that Bankman-Fried <a href=\"https:\/\/www.dailywire.com\/news\/he-set-off-my-bs-detector-musk-wanted-nothing-to-do-with-now-bankrupt-crypto-billionaire-who-wanted-a-piece-of-twitter-buyout\" target=\"_blank\" rel=\"noopener\">built<\/a> the platform \u201cfrom scratch\u201d and described him as an \u201cUltra Genius.\u201d<\/p>\n<p>The founder also regrets filing for bankruptcy since FTX US, the American subsidiary of the cryptocurrency exchange, remained solvent even as FTX, which is based in the Bahamas, experienced a liquidity crisis. \u201cI was sort of coerced into doing it, but I should have just said no. I had that right,\u201d he commented, claiming that customers in the American branch should expect full recoveries of their assets. \u201cI would give anything to un-file that right now.\u201d<\/p>\n<p>Bankman-Fried <a href=\"https:\/\/www.dailywire.com\/news\/here-are-the-democrats-and-republicans-who-received-campaign-cash-linked-to-bankrupt-crypto-empire-ftx\" target=\"_blank\" rel=\"noopener\">contributed<\/a> nearly $39 million during the recent midterm elections to Democratic candidates, according to <a href=\"https:\/\/www.opensecrets.org\/outside-spending\/top_donors\/2022?disp=D&#038;type=V&#038;superonly=N\" target=\"_blank\" rel=\"noopener\">data<\/a> from Open Secrets, which listed him as the nation\u2019s sixth-largest individual midterm donor. He claimed to Fong that he also contributed \u201cabout the same amount\u201d in dark money to Republicans. \u201cThe reason was not for regulatory reasons. It was because reporters freak the f*** out if you donate to Republicans,\u201d he said.<\/p>\n<p>Bankman-Fried, whose fortune disappeared overnight when his company folded, initially sought $8 billion from investors to <a href=\"https:\/\/www.dailywire.com\/news\/former-crypto-billionaire-sam-bankman-fried-whose-entire-fortune-just-went-to-zero-is-calling-around-for-new-investors\" target=\"_blank\" rel=\"noopener\">cover withdrawal requests<\/a> made by customers. During a second <a href=\"https:\/\/www.youtube.com\/watch?v=xP54LZB3WRw\" target=\"_blank\" rel=\"noopener\">interview<\/a> with Fong, the entrepreneur admitted that he should have been \u201cway more cautious and careful\u201d with the boundaries between FTX and Alameda Research. \u201cIt was a combination of the crash in the spring that took 50% out of asset values, combined with a hypercorrelated crash scenario this month,\u201d he said when explaining why his team was unable to manage a \u201ccomplete run on the bank\u201d at FTX.<\/p>\n<p>Many journalists were surprised that Bankman-Fried has been freely providing comments to media outlets given the bankruptcy proceedings for his company, which the attorney who once oversaw the fallout from Enron described as the <a href=\"https:\/\/www.dailywire.com\/news\/lawyer-overseeing-ftx-fallout-never-in-my-career-have-i-seen-such-a-complete-failure\" target=\"_blank\" rel=\"noopener\">worst case<\/a> of corporate failure he has ever witnessed. In one message to a Vox reporter, Bankman-Fried admitted that his persona as an \u201ceffective altruist\u201d was largely a ruse meant to earn the trust of \u201cwoke westerners.\u201d<\/p>\n<p>The founder, however, expressed remorse over the failure of his company. \u201cRight now, I\u2019m mostly focused on what I can do and where I can be helpful,\u201d he told Fong. \u201cThere will be a time and a place for ruminating on my future, but right now it\u2019s more one foot in front of the other and trying to be as helpful and constructive as I can.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former FTX CEO and alleged fraudster Sam Bankman-Fried revealed during a conversation with a cryptocurrency vlogger that he does not know how to code. FTX recently filed for bankruptcy after users discovered that trading firm Alameda Research, a company run by former Bankman-Fried love interest Caroline Ellison, had allegedly been using funds from FTX to &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1742695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1757262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1757262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1757262"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1757262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1742695"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1757262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1757262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1757262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}