“I didn’t ever try to commit fraud on anyone, I was shocked by what happened this month,” Sam Bankman-Fried (SBF), the founder and former chief executive of the fallen FTX, said at The New York Times’ annual DealBook summit in an interview with Andrew Ross Sorkin.
One of the biggest questions around this debacle is if there was any misuse of funds between Alameda and FTX. For some context, Alameda began struggling to pay lenders back as crypto prices began falling. As a result, it used FTX customer funds to make lenders whole; a move that both showed Alameda’s lack of assets, and triggered part of the crash when FTX customers began the crypto exchange equivalent of a run on the bank.
When pushed by Sorkin, SB …
