SBF plans new venture to repay FTX collapse victims, claims ‘did not commit fraud’

“I would give anything to be able to do that. And I’m going to try if I can.”

Described by bankruptcy lawyers as “one of the most abrupt and difficult collapses in the history of corporate America,” SBF was accused of running FTX as “his own personal fiefdom.”

Furthermore, it is alleged that SBF’s hedge fund company, Alameda Research, was using customer funds from FTX to make risky bets on financial markets without customer knowledge or consent.

A former senior FTX employee claimed that SBF must have been aware of this practice, and accused him of lying in recent interviews where SBF denied knowledge of the flow of funds and cryptocurrencies between the companies.

In response to the former senior FTX employee’s claim, SBF said:

“No that’s not true […]I didn’t knowingly commit fraud, I didn’t knowingly commit fraud, I don’t think I committed fraud, I didn’t want any of this to happen.”