{"id":1772236,"date":"2022-12-12T10:03:11","date_gmt":"2022-12-12T15:03:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1772236"},"modified":"2022-12-12T10:03:15","modified_gmt":"2022-12-12T15:03:15","slug":"sam-bankman-fried-worried-about-arrest-but-would-give-anything-to-start-another-business","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-worried-about-arrest-but-would-give-anything-to-start-another-business\/","title":{"rendered":"Sam Bankman-Fried Worried About Arrest But Would \u2018Give Anything\u2019 To Start Another Business"},"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-worried-about-arrest-but-would-give-anything-to-start-another-business%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=1772236&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 <a href=\"http:\/\/dailywire.com\/topic\/sam-bankman-fried\" target=\"_blank\" rel=\"noopener\">Sam Bankman-Fried<\/a> desires to launch a new business that would pay back customers of his now-bankrupt <a href=\"http:\/\/dailywire.com\/topic\/cryptocurrency\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a> exchange.<\/p>\n<p>FTX 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> last month after users discovered that the company was likely fraudulently intertwined with trading firm Alameda Research; both were controlled by Bankman-Fried and a close-knit group of amateur executives.<\/p>\n<p>During a Saturday <a href=\"https:\/\/www.bbc.com\/news\/technology-63911363\" target=\"_blank\" rel=\"noopener\">interview<\/a> with the BBC, however, the would-be digital asset wunderkind said he would \u201cgive anything\u201d to start a new venture and earn the funds necessary to compensate investors and customers. \u201cI\u2019m going to try if I can,\u201d he added.<\/p>\n<p>\u201cI\u2019m going to be thinking about how we can help the world and if users haven\u2019t gotten much back, I\u2019m going to be thinking about what I can do for them,\u201d the embattled entrepreneur continued. \u201cAnd I think at the very least I have a duty to FTX users to do right by them as best as I can.\u201d<\/p>\n<p>Members of the Senate Agriculture Committee <a href=\"https:\/\/www.dailywire.com\/news\/top-commodities-regulator-tells-senators-he-met-with-sam-bankman-fried-10-times\" target=\"_blank\" rel=\"noopener\">held a hearing<\/a> with Commodity Futures Trading Commission Chairman Rostin Behnam on increasing federal oversight of the cryptocurrency sector. Officials at the Securities and Exchange Commission launched a criminal investigation into Bankman-Fried to determine whether he broke the law by allegedly transferring FTX customer funds to Alameda Research, according to a <a href=\"https:\/\/www.dailywire.com\/news\/federal-prosecutors-open-criminal-investigation-into-disgraced-ftx-founder-sam-bankman-fried-report-says\" target=\"_blank\" rel=\"noopener\">report<\/a> from The New York Times. A hearing for the House Financial Services Committee is scheduled for Tuesday.<\/p>\n<p>Bankman-Fried has generally insisted during multiple media interviews that his companies\u2019 failure was due to his ineptitude rather than overt criminal behavior. Citing one unnamed former FTX employee, the BBC asked Bankman-Fried whether he lied about his purported lack of knowledge about the flow of assets between his two companies.<\/p>\n<p>\u201cNo that\u2019s not true,\u201d he responded, although he acknowledged that he was ultimately responsible for any mishandling of funds in his capacity as chief executive. \u201cI didn\u2019t knowingly commit fraud, I don\u2019t think I committed fraud, I didn\u2019t want any of this to happen. I was certainly not nearly as competent as I thought I was.\u201d<\/p>\n<p>Current FTX CEO John Ray III, a lawyer who succeeded Bankman-Fried to handle the company\u2019s bankruptcy, confirmed in a <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\">court filing<\/a> that the team managing the company was utterly unqualified. \u201cNever in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,\u201d he wrote.<\/p>\n<p>Bankman-Fried was initially hesitant to appear before lawmakers, as he <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1599511560384225281\" target=\"_blank\" rel=\"noopener\">claimed<\/a> that he first needed to finish \u201clearning and reviewing what happened\u201d at the cryptocurrency exchange. House Financial Services Committee Chairwoman Maxine Waters (D-CA) had been <a href=\"https:\/\/www.dailywire.com\/news\/maxine-waters-blasted-for-gentle-tweet-politely-asking-possible-financial-criminal-sam-bankman-fried-to-testify\" target=\"_blank\" rel=\"noopener\">criticized<\/a> for the evident politeness in her invitation to Bankman-Fried; she told the possible fraudster that her colleagues \u201cappreciate that you\u2019ve been candid in your discussions about what happened.\u201d<\/p>\n<p>When asked by the BBC if he is preparing for possible arrest and imprisonment, Bankman-Fried indicated that he is indeed concerned about such an outcome.<\/p>\n<p>\u201cThere\u2019s some time at night ruminating, yes,\u201d he said, \u201cbut when I get up during the day, I try and focus, be as productive as I can and ignore things that are out of my control.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former FTX CEO Sam Bankman-Fried desires to launch a new business that would pay back customers of his now-bankrupt cryptocurrency exchange. FTX filed for bankruptcy last month after users discovered that the company was likely fraudulently intertwined with trading firm Alameda Research; both were controlled by Bankman-Fried and a close-knit group of amateur executives. During &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1741236,"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":[6278,5175,7176,4284,6202,6093,6912,3732,6195,5622],"class_list":["post-1772236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-anything","tag-arrest","tag-bankman-fried","tag-business","tag-daily","tag-give","tag-sam","tag-start","tag-wire","tag-worried"],"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\/1772236","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=1772236"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1772236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1741236"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1772236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1772236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1772236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}