{"id":511416,"date":"2022-11-17T16:11:00","date_gmt":"2022-11-17T13:11:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-boss-sam-bankman-fried-slams-regulators-admits-mistakes\/"},"modified":"2022-11-17T16:11:00","modified_gmt":"2022-11-17T13:11:00","slug":"ftx-boss-sam-bankman-fried-slams-regulators-admits-mistakes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-boss-sam-bankman-fried-slams-regulators-admits-mistakes\/","title":{"rendered":"#FTX boss Sam Bankman-Fried slams regulators, admits mistakes"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33bdf6a45e1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33bdf6a45e1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-boss-sam-bankman-fried-slams-regulators-admits-mistakes\/#%E2%80%9CFTX_boss_Sam_Bankman-Fried_slams_regulators_admits_mistakes%E2%80%9D\" >&#8220;FTX boss Sam Bankman-Fried slams regulators, admits mistakes&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CFTX_boss_Sam_Bankman-Fried_slams_regulators_admits_mistakes%E2%80%9D\"><\/span>&#8220;FTX boss Sam Bankman-Fried slams regulators, admits mistakes&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Disgraced FTX founder Sam Bankman-Fried unleashed a tirade against regulators, called \u201cethics\u201d a \u201cdumb <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> we woke westerners play,\u201d and insisted his biggest mistake was filing for bankruptcy in a wild, wide-ranging interview.<\/p>\n<p>\u201cI f\u2014ed up. Big. Multiple times,\u201d the fallen 30-year-old cryptocurrency mogul admitted to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.vox.com\/future-perfect\/23462333\/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy\">Vox reporter Kelsey Piper<\/a> in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> confessional that even she admitted being shocked over.<\/p>\n<p>\u201cYou know what was mabe my biggest single f\u2014up? The one thing everyone told me to do,\u201d he said.<\/p>\n<p>\u201cChapter 11,\u201d he said, claiming that without bankruptcy \u201ceverything would be ~70% right now if I hadn\u2019t\u201d done it.<\/p>\n<p>\u201cInstead I filed, and the people in charge of [the company] are trying to burn it all to the ground out of shame,\u201d he complained.<\/p>\n<p>Bankman-Fried \u2014 who is believed to be hiding out in the Bahamas \u2014 blamed \u201cmessy accounting\u201d for how his hedge fund, Alameda Research, had borrowed money from FTX\u2019s balance sheet for investments.<\/p>\n<p>\u201cI didn\u2019t realize [the] full size of it until a few weeks ago,\u201d he wrote, saying it \u201cwas messier and more organic\u201d than simpliy lending out customer funds.<\/p>\n<p>\u201cEach step was in isolation rational and reasonable, and then we finally added it up last week and it wasn\u2019t,\u201d he wrote.<\/p>\n<p>He maintained that he \u201cdidn\u2019t want to do sketchy stuff.\u201d<\/p>\n<p>\u201cAnd I didn\u2019t mean to. Each individual decision seemed fine and I didn\u2019t realize how big their sum was until the end,\u201d he said.<\/p>\n<p>\u201cIt was never the intention\u201d to get away with it, he said, adding: \u201cSometimes life creeps up on you.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-feat-image.jpg?w=1024\" alt=\"Sam Bankman-Fried\" class=\"wp-image-24687041\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-feat-image.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-feat-image.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-feat-image.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Fallen crypto CEO Sam Bankman-Fried is believed to now be hiding out in the Bahamas.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Meanwhile, Bankman-Fried admitted that his advocacy for better crypto regulation in Washington was \u201cjust PR\u201d \u2014 and bluntly dismissed official bodies supposed to protect customers against crooked companies.<\/p>\n<p>\u201cF\u2013k regulators. They make everything worse. They don\u2019t protect customers at all,\u201d he wrote.<\/p>\n<p>He admitted the exchange was genuine, however, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1593014934207881218\">claimed he thought it was an exchange with a friend<\/a> and not one that would be posted online.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"800\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-07-1.jpg?w=800\" alt=\"Caroline Ellison, Sam Bankman-Fried associate and 28-year-old CEO of doomed Alameda Research&#10;\" class=\"wp-image-24687107\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-07-1.jpg?quality=75&amp;strip=all&amp;w=1600 1600w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-07-1.jpg?quality=75&amp;strip=all&amp;w=1200 1200w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-07-1.jpg?quality=75&amp;strip=all&amp;w=800 800w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-07-1.jpg?quality=75&amp;strip=all&amp;w=400 400w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-07-1.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\"\/><figcaption>Caroline Ellison, the 28-year-old CEO of doomed Alameda Research.<\/figcaption><figcaption><span class=\"credit\">Twitter<\/span><\/figcaption><\/figure>\n<p>He then added his own clarifications after Vox published the comments \u2014 attempting to walk back his crude assessment of regulators.<\/p>\n<p>\u201cIt\u2019s <em>really<\/em> hard to be a regulator. They have an impossible job: to regulate entire industries that grow faster than their mandate allows them to,\u201d he now wrote, saying some had \u201cdeeply impressed me with their knowledge and thoughtfulness.\u201d<\/p>\n<p>\u201cSome of what I said was thoughtless or overly strong \u2014 I was venting and not intending that to be public,\u201d he tweeted.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-04.jpg?w=1024\" alt=\"(FILES) In this file photo taken on February 09, 2022, Samuel Bankman-Fried, founder and CEO of FTX, testifies during a Senate Committee on Agriculture, Nutrition and Forestry hearing about &quot;Examining Digital Assets: Risks, Regulation, and Innovation,&quot; on Capitol Hill in Washington, DC.\" class=\"wp-image-24687089\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-04.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-04.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-04.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>He maintained that he \u201cdidn\u2019t want to do sketchy stuff.\u201d<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>This time, he blamed being \u201coverconfident and careless\u201d from being \u201con the cover of every magazine, and FTX was the darling of Silicon Valley.\u201d<\/p>\n<p>Now, he said, his \u201cgoal \u2014 my one goal \u2014 is to do right by customers.\u201d<\/p>\n<p>\u201cI\u2019m <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1592604699693580289\">contributing what I can to doing so<\/a>. I\u2019m meeting in-person with regulators and working with the teams to do what we can for customers. And after that, investors. But first, customers,\u201d he said.<\/p>\n<p>\u201cIt sucks. I\u2019m really sorry that things ended up as they did. And as I said \u2014 I\u2019m <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1593014936795422721\">going to do everything I can<\/a> to make it more right.\u201d\n                        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/17\/ftx-boss-sam-bankman-fried-slams-regulators-admits-mistakes\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;FTX boss Sam Bankman-Fried slams regulators, admits mistakes&#8221; Disgraced FTX founder Sam Bankman-Fried unleashed a tirade against regulators, called \u201cethics\u201d a \u201cdumb game we woke westerners play,\u201d and insisted his biggest mistake was filing for bankruptcy in a wild, wide-ranging interview. \u201cI f\u2014ed up. Big. Multiple times,\u201d the fallen 30-year-old cryptocurrency mogul admitted to Vox&#8230;<\/p>\n","protected":false},"author":1,"featured_media":511417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-sam-fried-blames-girlfriend-ethics-comp-2-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,135705,76127,70610,70934],"class_list":["post-511416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-11-17-22","tag-cryptocurrency","tag-finance","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=511416"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/511417"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=511416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=511416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=511416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}