{"id":519308,"date":"2022-12-01T18:22:22","date_gmt":"2022-12-01T15:22:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sam-bankman-fried-rejects-bernie-madoff-comparison-squirms-during-tense-interview\/"},"modified":"2022-12-01T18:22:22","modified_gmt":"2022-12-01T15:22:22","slug":"sam-bankman-fried-rejects-bernie-madoff-comparison-squirms-during-tense-interview","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sam-bankman-fried-rejects-bernie-madoff-comparison-squirms-during-tense-interview\/","title":{"rendered":"#Sam Bankman-Fried rejects Bernie Madoff comparison, squirms during tense interview"},"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-6a37aca1e7778\" 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-6a37aca1e7778\" 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\/sam-bankman-fried-rejects-bernie-madoff-comparison-squirms-during-tense-interview\/#%E2%80%9CSam_Bankman-Fried_rejects_Bernie_Madoff_comparison_squirms_during_tense_interview%E2%80%9D\" >&#8220;Sam Bankman-Fried rejects Bernie Madoff comparison, squirms during tense interview&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSam_Bankman-Fried_rejects_Bernie_Madoff_comparison_squirms_during_tense_interview%E2%80%9D\"><\/span>&#8220;Sam Bankman-Fried rejects Bernie Madoff comparison, squirms during tense interview&#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 pushed back on critics who have compared him to the late Ponzi schemer Bernie Madoff, even as he deflected questions over whether he might be headed to jail.<\/p>\n<p>The 30-year-old former crypto kingpin claimed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.goodmorningamerica.com\/Business\/story\/ftxs-sam-bankman-fried-denies-improper-customer-funds-94233125\">during a Thursday interview<\/a> with ABC\u2019s \u201cGood Morning America\u201d that FTX\u2019s downfall \u201creads very differently\u201d than the fallout from Madoff\u2019s scheme to bilk investors out of billions during the Great Recession. <\/p>\n<p>That\u2019s despite lingering questions about the billions of dollars that FTX owes to its many creditors in bankruptcy, as well as at least $1 billion in client funds that are still missing.<\/p>\n<p>\u201cA lot of people look at you and see Bernie Madoff,\u201d ABC\u2019s George Stephanopoulos said to Bankman-Fried.<\/p>\n<p>\u201cYeah, I mean, I don\u2019t think that\u2019s who I am at all, but I understand why they\u2019re saying that,\u201d Bankman-Fried replied. \u201cPeople lost money and people lost a lot of money. At the end of the day, look, there\u2019s a question of what h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened and why and who did what, what caused the meltdown. I think that reads very differently.\u201d<\/p>\n<p>\u201cWhen you look at the classic Bernie Madoff story, there was no real business there,\u201d Bankman-Fried added. \u201cThe whole thing, as I understand it, I think, was one big Ponzi scheme. FTX, that was a real business.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>Bankman-Fried\u2019s ABC interview is part of an ongoing apology tour during a period of mounting legal and regulatory scrutiny over his actions in the days prior to FTX\u2019s collapse. Throughout the interview, the ex-billionaire squirmed in his seat and took long pauses before answering direct questions about his mismanagement.<\/p>\n<p>At one point, Stephanopoulos grilled Bankman-Fried on whether he is afraid he will face jail time over the FTX meltdown.<\/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\/12\/gma-ftx-Bankman-Fried-010.jpg?w=1024\" alt=\"Sam Bankman-Fried\" class=\"wp-image-24853587\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-010.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-010.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-010.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sam Bankman-Fried faces intense legal and regulatory scrutiny.<\/figcaption><figcaption><span class=\"credit\">GMA<\/span><\/figcaption><\/figure>\n<p>\u201cThere are a lot of things that are worrying me right now,\u201d Bankman-Fried replied. \u201cAnd, you know, as best as possible, I\u2019m trying to focus on what I can do going forward to be helpful and let whatever regulatory and legal processes that are happening play out as they will.\u201d<\/p>\n<p>Stephanopoulos asked Bankman-Fried to answer, point-blank, whether he knew that FTX client funds were being funneled to help cover risky bets made by the platform\u2019s sister cryptocurrency trading firm Alameda Research, whose CEO was his ex-girfriend Caroline Ellison.<\/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\/12\/gma-ftx-Bankman-Fried-007.jpg?w=1024\" alt=\"Sam Bankman-Fried\" class=\"wp-image-24853582\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-007.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-007.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-007.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sam Bankman-Fried took long pauses before answering direct questions about his management of FTX.<\/figcaption><figcaption><span class=\"credit\">GMA<\/span><\/figcaption><\/figure>\n<p>After a lengthy pause, Bankman-Fried said he \u201cdid not know that there was any improper use of customer funds.\u201d<\/p>\n<p>Bankman-Fried also reiterated his claim that FTX\u2019s meltdown has effectively destroyed his personal fortune.<\/p>\n<p>\u201cI expect I\u2019m gonna have nothing at the end of this,\u201d he said. <\/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\/12\/gma-ftx-Bankman-Fried-006.jpg?w=1024\" alt=\"George Stephanopoulos\" class=\"wp-image-24853580\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-006.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-006.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-006.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>George Stephanopoulos grilled SBF about his actions.<\/figcaption><figcaption><span class=\"credit\">GMA<\/span><\/figcaption><\/figure>\n<p>Last month, Reuters reported that Bankman-Fried had secretly transferred $10 billion in FTX client funds to Alameda Research. At least $1 billion of that money has disappeared.<\/p>\n<p>Prominent critics include new FTX CEO John Ray III, a veteran of Enron\u2019s bankruptcy who said accounting practices and corporate governance standards under Bankman-Fried\u2019s leadership were the worst he\u2019s seen in his career.<\/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\/bankman-fried-018.jpg?w=1024\" alt=\"Caroline Ellison\" class=\"wp-image-24838617\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/bankman-fried-018.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/bankman-fried-018.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/bankman-fried-018.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Caroline Ellison was CEO of Alameda Research. <\/figcaption><figcaption><span class=\"credit\"><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> \/ @carolinecapital<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"684\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/bankman-fried-024-1.jpg?w=1024\" alt=\"Bahamas penthouse\" class=\"wp-image-24838620\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/bankman-fried-024-1.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/bankman-fried-024-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/bankman-fried-024-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sam Bankman-Fried and his friends ran FTX from a luxury penthouse.<\/figcaption><figcaption><span class=\"credit\">Seaside Real Estate\/ Bahamas MLS<\/span><\/figcaption><\/figure>\n<p>Court filings and remarks from former employees have revealed lavish spending habits at FTX before its collapse, including $300 million on luxury real estate in the Bahamas and a suite of employees perks that reportedly included all-expenses-paid <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>s, free massages and an on-site barbershop.<\/p>\n<p>During the interview, Bankman-Fried admitted that he hadn\u2019t spent \u201cany time or effort\u201d on risk management at FTX.<\/p>\n<p>Bankman-Fried also appeared at the New York Times\u2019 DealBook summit on Wednesday, where he said he \u201cdidn\u2019t ever try to commit fraud.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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The 30-year-old former crypto kingpin claimed during a Thursday interview with ABC\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":519309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/gma-ftx-Bankman-Fried-comp.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,89897,136509,4978,77869,76127,82117],"class_list":["post-519308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-sam-bankman-fried","tag-12-1-22","tag-bankruptcy","tag-bernie-madoff","tag-cryptocurrency","tag-ponzi-schemes"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519308","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=519308"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519308\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/519309"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=519308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=519308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=519308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}