As previously mentioned, Sam Bankman-Fried (SBF) will start a new project to raise funds for victims of FTX. He doesn’t seem concerned about the possibility of jail time.
Former FTX CEO SBF recently appeared in the media. SBF is opening a new project from a luxury condominium in the Bahamas, according to the BBC. “I’d give anything to do it. I’d do my best if I could,” Sam told reporters over the weekend.
The 30-year-old is facing multiple federal investigations into the mishandling of customer deposits by FTX and Alameda. In addition, Alameda’s portfolio has many questioning where the money is going and why.
SBF stays calm over jail risk
Asked about possible jail time, SBF admitted there had been “rumours all night,” but overall he wasn’t too concerned. Currently, there is no specific information on SBF’s new business projects.
According to the latest interview with a series of media appearances, SBF said it was still making every effort to seek forgiveness for any wrongdoing related to its collapse. The second largest exchange in the world. Sam says:
I’m going to think about how we can help the world, and if users can’t get their money, I’m going to see what I can do for them. I think I have an obligation to FTX users and must do my best.
The BBC also interviewed a former FTX employee. Accordingly, the individual accused SBF of lying when he said he knew what the Alameda money was for. Bankman-Fried denied the allegation, but admitted as chief executive he was responsible for any mishandling of funds.
However, SBF still denies the existence of fraud. “I didn’t knowingly cheat. I don’t think I did. I didn’t want this to happen,” he said.
another puff piece #SBF and #FTX – Nowhere is it mentioned that he stole 10 billion user funds. This kind of bad journalism is always the result of paid political influence.if you lose everything you shouldn’t let #bbc get rid of this. https://t.co/EM7xp9yInz
— Chris DeCosta (@cjdcosta) December 11, 2022
Will Sam be in court this week?
Putting aside the fact that SBF will start a new project, he has been called to testify at two Senate hearings this week. According to U.S. lawmakers, the former chief executive may receive a subpoena if he does not show up.
On Dec. 9, Sam said he would like to testify, but he doesn’t currently have much access to company or personal data. He added: “What I know is limited. I probably won’t be of much help to the trial.”
In addition, SBF may face investigations into alleged market manipulation. Last week, federal prosecutors expressed doubts about whether Sam had anything to do with Terra’s ecosystem collapse in May.
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