Weeks after its collapse, FTX stays a focus of the crypto information cycle.
SBF Interview Leaked
FTX CEO Bankman-Fried made headlines on Tuesday, November 29, after he gave a telephone interview to YouTuber Tiffany Fong during which he supplied larger context into a lot of his earlier actions.
In the course of the dialog, Bankman-Fried supplied particulars on why FTX briefly reopened withdrawals within the Bahamas throughout its collapse. Whereas early statements urged that the corporate had complied with regulators, Bankman-Fried admitted that the corporate had reached out to regulators and obtained no response inside sooner or later.
“They didn’t reply, after which we did it,” Bankman-Fried mentioned, suggesting that the choice “was vital to the change having the ability to have a future.”
Bankman-Fried additionally mentioned that his legal professionals instructed him to not admit to wrongdoing, referring to an apology he wrote on Twitter on November 10 during which he wrote, “I’m sorry… I fucked up.” Bankman-Fried mentioned that his legal professionals instructed him: “It’s a must to promise that you just by no means, ever, ever say you fucked up once more.”
Different FTX Developments
Different information regarding FTX have come to gentle. At present, impartial crypto sleuth ZachXBT claimed to have tracked the motion of funds stolen from FTX in early November. ZachXBT believed that the perpetrator transferred 255 BTC ($4.1 million) to the crypto change OKX after mixing funds through ChipMixer.
The Texas Tribune acknowledged that Texas Democratic candidate Beto O’Rourke had returned a $1 million donation from Bankman-Fried. O’Rourke reportedly returned the donation as a result of it was unsolicited, not due to controversy round FTX. The funds had been returned on November 4 earlier than the change’s collapse. Relatedly, the authors of the In style Info substack acknowledged not less than seven different politicians had additionally returned funds donated by FTX leaders earlier than November 16.
Lastly, BlockFi’s chapter proceedings have revealed that the lending agency has deeper connections to FTX, together with $335 million of belongings frozen on FTX’s change. BlockFi has moreover sued Bankman-Fried in an try to seize Robinhood shares as soon as pledged as collateral. The submitting yesterday urged that the corporate owes FTX $275 million.
Disclosure: On the time of writing, the creator of this piece owned BTC, ETH, and different digital belongings.