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The Biggest Revelations From The Testimony Sam Bankman-fried Never Gave by Nobody: 10:55am On Dec 15, 2022 |
Sam Bankman-Fried admitted to Congress Tuesday that he “f–ed up” while running bankrupt cryptocurrency exchange FTX, and claimed he has only $100,000 in his bank account, despite a one-time net worth of $26 billion. Or, at least—that’s what he had planned to do before he was arrested late Monday in the Bahamas on U.S. federal charges that include wire fraud, securities fraud, and money laundering. Bankman-Fried (nicknamed SBF) was due to testify under oath before the House Financial Services Committee on Tuesday. A copy of his prepared remarks show that he continued to maintain that he did not know FTX’s investment arm, Alameda, used customer funds for risky investments—and he bitterly criticized the managers who took over the company and forced him out after it began to unravel. He also addressed personal questions—including denying reports of hard-partying at FTX headquarters and acknowledging that he has been “sad” for most of his adult life. Here’s what he planned to tell lawmakers in his 18-pages of prepared testimony. If you want to read the full gist click on the link. Note;No be by force. https://time.com/6240765/sam-bankman-fried-ftx-biggest-revelations/ |
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