{"id":1757608,"date":"2022-11-30T22:04:13","date_gmt":"2022-12-01T03:04:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1757608"},"modified":"2022-11-30T22:04:18","modified_gmt":"2022-12-01T03:04:18","slug":"sam-bankman-fried-denies-wrongdoing-in-ftx-implosion-during-live-streamed-new-york-times-interview","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-denies-wrongdoing-in-ftx-implosion-during-live-streamed-new-york-times-interview\/","title":{"rendered":"Sam Bankman-Fried Denies Wrongdoing In FTX Implosion During Live-Streamed New York Times Interview"},"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\">26<\/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%2Fsam-bankman-fried-denies-wrongdoing-in-ftx-implosion-during-live-streamed-new-york-times-interview%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=1757608&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><a href=\"https:\/\/www.dailywire.com\/topic\/new-york-times\" target=\"_blank\" rel=\"noopener\">New York Times<\/a> financial columnist Andrew Ross Sorkin interviewed former FTX CEO Sam Bankman-Fried after his <a href=\"http:\/\/dailywire.com\/topic\/cryptocurrency\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a> empire imploded.<\/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 bets. During the live-streamed <a href=\"https:\/\/www.nytimes.com\/live\/2022\/11\/30\/business\/sam-bankman-fried-interview\" target=\"_blank\" rel=\"noopener\">interview<\/a> at The New York Times\u2019 DealBook Summit, which was attended virtually by The Daily Wire, the former billionaire denied that he intentionally commingled customers\u2019 investments.<\/p>\n<p>Sorkin told Bankman-Fried that he received multiple letters from FTX customers who accused the now-broke entrepreneur of stealing their life savings, prompting him to say that he was \u201cdeeply sorry about what happened.\u201d After Sorkin pressed him on the alleged intertwining of funds, Bankman-Fried claimed that a \u201cfailure of oversight\u201d on his part resulted in confusion rather than any desire to defraud investors for his own profit.<\/p>\n<p>\u201cI wasn\u2019t running Alameda. I didn\u2019t know exactly what was going on,\u201d Bankman-Fried remarked. \u201cI was nervous because of the conflict of interest of being too involved.\u201d<\/p>\n<p>The New York Times, which ran a <a href=\"https:\/\/www.dailywire.com\/news\/new-york-times-runs-puff-piece-about-disgraced-billionaire-sam-bankman-fried-leaves-out-connections-to-democrats\" target=\"_blank\" rel=\"noopener\">puff piece<\/a> claiming the disgraced entrepreneur\u2019s \u201cambitions exceeded his grasp,\u201d faced <a href=\"https:\/\/www.dailywire.com\/news\/shameless-media-just-cant-quit-love-affair-with-crypto-creep-sbf\" target=\"_blank\" rel=\"noopener\">criticism<\/a> for continuing the panel event with Bankman-Fried at the DealBook Summit, which also featured guests such as Meta CEO Mark Zuckerberg and Treasury Secretary Janet Yellen.<\/p>\n<p>Bankman-Fried, who grew visibly nervous as the interview progressed, repeatedly insisted that the entire situation was a mistake rather than an attempt to defraud customers and investors. When Sorkin noted that <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\">media outlets<\/a> have considered Bankman-Fried as a J.P. Morgan figure in the cryptocurrency space and asked whether his actions to support rival companies like BlockFi and Voyager were motivated by a desire to support his own enterprises, Bankman-Fried said that he had tried to \u201ckeep the industry stable,\u201d but denied that his actions had an impact on FTX or Alameda Research.<\/p>\n<p>BlockFi, which has since filed for bankruptcy, loaned a \u201ccouple hundred million\u201d dollars to Alameda Research, according to Bankman-Fried, who told Sorkin that his lawyers were not particularly supportive of his decision to continue engaging with the media. In one <a href=\"https:\/\/www.vox.com\/future-perfect\/23462333\/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy\" target=\"_blank\" rel=\"noopener\">message<\/a> to Vox reporter Kelsey Piper, 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>Sorkin asked whether Bankman-Fried had been truthful throughout the conversation. He replied that \u201cthere are certainly times when I was acting as a representative, as a marketer for FTX.\u201d<\/p>\n<p>Bankman-Fried has indeed participated in several <a href=\"https:\/\/www.dailywire.com\/news\/i-dont-even-know-how-to-code-mit-grad-and-now-broke-crypto-ceo-sam-bankman-fried-tells-niche-vlogger\" target=\"_blank\" rel=\"noopener\">interviews<\/a> since his company folded. When asked by cryptocurrency vlogger Tiffany Fong whether he created a backdoor that allowed him to move funds to Alameda Research without alerting other executives, the one-time wunderkind 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>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 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 told Fong.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Times financial columnist Andrew Ross Sorkin interviewed former FTX CEO Sam Bankman-Fried after his cryptocurrency empire imploded. 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 make bets. During the live-streamed &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1757611,"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-1757608","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\/1757608","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=1757608"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1757608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1757611"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1757608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1757608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1757608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}