{"id":1773209,"date":"2022-12-13T06:09:03","date_gmt":"2022-12-13T11:09:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1773209"},"modified":"2022-12-13T07:18:33","modified_gmt":"2022-12-13T12:18:33","slug":"sam-bankman-fried-reveals-plans-to-launch-new-business-after-ftx-collapse","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-reveals-plans-to-launch-new-business-after-ftx-collapse\/","title":{"rendered":"Sam Bankman-Fried Reveals Plans to Launch New Business After FTX Collapse"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/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-reveals-plans-to-launch-new-business-after-ftx-collapse%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=1773209&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.theepochtimes.com\/t-ftx\">FTX<\/a> founder\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-sam-bankman-fried\">Sam Bankman-Fried<\/a> has revealed plans to start a new business venture just weeks after his\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-cryptocurrency\">cryptocurrency<\/a>\u00a0exchange spectacularly collapsed.<\/p>\n<p>In an interview with the BBC published on Saturday, the 30-year-old\u2014who is facing a number of civil lawsuits brought against both him and his failed company\u2014said he would \u201cgive anything\u201d to be able to set up a new business in an effort to pay back investors.<\/p>\n<p>\u201cI would give anything to be able to do that. And I\u2019m going to try if I can,\u201d\u00a0Bankman-Fried said when asked if he planned to launch a new company to recoup the losses by FTX and pay back investors and users who have lost millions.<\/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 he said. \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>FTX was once valued at $32 billion after raising\u00a0$400 million from investors before it collapsed in November amid a\u00a0liquidity crisis worsened further by\u00a0larger rival Binance deciding to pull out of a potential rescue deal.<\/p>\n<p>Traders soon pulled\u00a0billions from the platform and the company ultimately filed for\u00a0Chapter 11 bankruptcy on Nov. 11. Millions of FTX users have been left unable to access their\u00a0crypto wallets.<\/p>\n<h2>Bankman-Fried to Testify Before Congress<\/h2>\n<p>Questions have been raised regarding the roughly\u00a0$1 billion of customer funds that appear to have vanished from the failed\u00a0crypto exchange. Meanwhile,\u00a0Bankman-Fried claims to have just <a href=\"https:\/\/www.theepochtimes.com\/sam-bankman-fried-says-fortune-has-dwindled-to-100000-after-ftx-collapse_4899683.html\">$100,000 left in his bank account<\/a> and denies having \u201chidden funds\u201d anywhere.<\/p>\n<p>On\u00a0Friday, Bankman-Fried <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1601186246990401537\">confirmed<\/a> that he will testify before the U.S. Senate Banking Committee on Tuesday amid multiple probes into FTX\u2019s collapse as well as that of its\u00a0sister hedge fund, Alameda\u00a0Research.<\/p>\n<p>However, the former billionaire claimed he does not have access to much of his professional or personal data, and therefore \u201cthere is a limit to what I will be able to say, and I won\u2019t be as helpful as I\u2019d like.\u201d<\/p>\n<p>Speaking to the BBC from a luxury apartment in the Bahamas owned by FTX,\u00a0Bankman-Fried was asked whether he was prepared for the possibility of being arrested, to which he replied, \u201cThere\u2019s some time at night ruminating, yes, but 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<p>However, the crypto firm founder doubled down on comments he made\u00a0during the New York Times DealBook Summit on Nov. 30, in which he denied having committed any\u00a0fraud at FTX.<\/p>\n<p>Financial regulators and authorities in both the United States and the Bahamas are currently investigating the collapse of the company.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-katabella-roberts\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/ttl7dayERL_WEB_KatabellaRoberts.jpg\" alt=\"Katabella Roberts\"   style=\"display:none\"><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.\n<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>FTX founder\u00a0Sam Bankman-Fried has revealed plans to start a new business venture just weeks after his\u00a0cryptocurrency\u00a0exchange spectacularly collapsed.In an interview with the BBC published on Saturday, the 30-year-old\u2014who is facing<\/p>\n","protected":false},"author":1,"featured_media":1697968,"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":[547],"tags":[7176,5458,4284,7385,7334,4706,3641,3819,5114,6912],"class_list":["post-1773209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bankman-fried","tag-bongino","tag-business","tag-collapse","tag-ftx","tag-launch","tag-plans","tag-report","tag-reveals","tag-sam"],"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\/1773209","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1773209"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1773209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1697968"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1773209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1773209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1773209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}