NASSAU, THE BAHAMAS — Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, told ABC News he was ultimately responsible for the downfall of both companies, but denied that he knew"that there was any improper use of customer funds."
Bankman-Fried spoke to George Stephanopoulos and ABC News for his first network interview since both companies in his cryptocurrency empire filed for bankruptcy this month. He addressed rumors that have swirled since the collapse and discussed his uncertain path forward. The interview took place in the Bahamas island of Nassau where FTX was headquartered.
FTX filed for bankruptcy protection in November after a rival cryptocurrency exchange announced it was backing out of a plan to acquire it. The filing follows reports that FTX used deposits to pay Alameda Research creditors, a claim reportedly made by former Alameda Research CEO Caroline Ellison during a call in early November. Bankman-Fried said he was not aware that was true but said Alameda had a large position open on FTX that was"overcollateralized a year ago.
Bankman-Fried, 30, said he currently owns just one ATM card and has $100,000 in his bank account, a drastic reversal from the estimated $20 billion net worth that thrust him into the spotlight. He ultimately blamed the collapse of FTX on his struggle with risk management.
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