Disgraced FTX founder Sam Bankman-Fried — an alum of the vaunted university — gave a bizarre explanation for an $8 billion budget shortfall that helped force the doomed cryptocurrency platform into bankruptcy last month — claiming he had simply “misaccounted” the cash.
In a section labeled, “What I *thought*,” Bankman-Fried lists $8.9 billion in debts against nearly $28 billion in assets — $9 billion of which were purportedly “liquid.” In another section with the actual numbers, FTX had $8 billion less in liquid assets than Bankman-Fried had claimed. “Misaccounted,” replied Bankman-Fried, who minored in math while graduated from MIT with a Bachelor’s degree in physics.
Bankman-Fried made his latest defense of FTX’s implosion from the luxury penthouse where he, his ex-lover Caroline Ellison and a small group of roommates ran FTX and Alameda Research. Ellison served as CEO of Alameda until its meltdown.
Source: Education Headlines (educationheadlines.net)
Go woke, go broke, and get off the hook scot-free. There is no accountability here whatsoever nor repercussions for his actions.
Jail
None of this adds up (literally) The beauty of this all is there will be recorded transactions all over to be discovered and then people will pay with Jail time
He’s worse than the pentagon
He's ready to work for the Pentagon or is it pentaGone?
Lol
A lot of 0’s to miss!!!!
Scam Bankman Fraud
More like 'unremembered'
He’s looking for it. Give him a break.
Just put stole…
Happens all the time to me too
whoopsie doopsie kylascan
Dirty lying 🐀
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former FTX CEO Sam Bankman-Fried denies 'improper use' of customer fundsIn the interview, Bankman-Fired admitted to not spending any time and effort trying to manage risk on FTX. Something tells me they didn't have any money... Made a fortune
Source: Cointelegraph - 🏆 562. / 51 Read more »
Sam Bankman-Fried claims he ‘misaccounted’ $8 billion in FTX fundsSBF said he was “real lazy about this mental math” while running FTX into bankruptcy. Oh no biggie. I’m sure he’ll find it in the wash somewhere. But not miscounted funds into his own account. Funny that. He can have a bright future in the pentagon with his financial management skills.
Source: nypost - 🏆 91. / 67 Read more »
Rep. Waters: Sam Bankman-Fried should bring 'candid' FTX discussions to CongressRep. Maxine Waters would 'welcome' Sam Bankman-Fried's participation in an upcoming FTX hearing. 🤡🌎 She is such an absolute embarrassment. Anyone who supports someone like this politically simply isn't paying attention.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Sam Bankman-Fried Lobbied For Regulatory Bill That Would Have Killed FTX | CoinMarketCapcryptonews: 'One thing that's given me pause is just thinking about why FTX would have lobbied so hard for a bill that it could never comply with.' - Colorado Democrat Michael Bennet. I think that guy is richer than Elon for some reason. Best day in my life
Source: CoinMarketCap - 🏆 290. / 63 Read more »
Sam Bankman-Fried says he 'got a little cocky' before FTX collapsed | CNN BusinessSam Bankman-Fried, the founder of now-bankrupt FTX, has fallen from the peak of crypto celebrity, but he's not going quietly. In back-to-back interviews, he's portrayed himself as a clumsy and repentant businessman. 'A little cocky'? Dude stole billions from shareholders! Your cellmate is going to get a little cocky too. When you are in the top 5 financial supporters of TheDemocrats you become untouchable.
Source: CNN - 🏆 4. / 95 Read more »
Ex-FTX boss Sam Bankman-Fried denies illegal drug use at companyFTX founder Sam Bankman-Fried denied witnessing any illegal drug use by his employees and said he had been prescribed 'various things' to help with concentration. isnt that how paypal started
Source: FoxBusiness - 🏆 458. / 53 Read more »