Alex Wong
Sam Bankman-Fried, who has come under a number of federal investigations after the collapse of his FTX (FTT-USD) cryptocurrency exchange, is hoping to start a new business to earn enough money to repay FTX investors, he told BBC in a recent interview.
His remarks come as over a million FTX users were estimated to have been unable to access their funds. The crypto trading platform, which was at one point the world’s second largest, filed for bankruptcy along with its more than 130 affiliates on November 11 after the discovery of its unstable financial health resulted in a colossal amount of outflows.
“I’m going to be thinking about how we can help the world and if users haven’t gotten much back, I’m going to be thinking about what I can do for them. And I think at the very least I have a duty to FTX users to do right by them as best as I can,” Bankman-Fried said, as quoted by BBC.
The 30-year-old, who was described to have run FTX as his own “personal fiefdom,” said last week he’s “willing to testify” on Tuesday before the House Financial Services Committee.
Last week, (Dec. 9) SBF in sights of fraud investigation over Bahamas money.
Image and article originally from seekingalpha.com. Read the original article here.