FTX founder Sam Bankman-Fried says he ‘screwed up’ but didn’t commit fraud

FTX founder Sam Bankman-Fried says he ‘screwed up’ but didn’t commit fraud

Disgraced CEO said he ‘didn’t knowingly comingle funds’ with FTX’s sister company Alameda Research

“Look, I screwed up,” fallen crypto billionaire Sam Bankman-Fried told a conference in New York on Wednesday but he maintained he “didn’t ever try to commit fraud” and was “shocked” by the collapse of his businesses.

Bankman-Fried, with glassy eyes and visibly shaking at times, appeared via video conference from a nondescript room in the Bahamas. He told the New York Times’s DealBook Summit he was “deeply sorry about what happened” but consistently argued he did not have a full picture of what was going on within the various branches of FTX, his now bankrupt cryptocurrency exchange, and its offshoots.

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