SBF plans new venture to repay FTX collapse victims, claims ‘d | Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News
SBF plans new venture to repay FTX collapse victims, claims ‘did not commit fraud’
Sam Bankman-Fried (SBF), the former CEO of the now-collapsed FTX crypto exchange, has said that he hopes to start a new business to generate funds to pay back victims of the company’s collapse. Described by bankruptcy lawyers as “one of the most abrupt and difficult collapses in the history of corporate America,” SBF was accused of running FTX as “his own personal fiefdom.”. Furthermore, it is alleged that SBF’s hedge fund company, Alameda Research, was using customer funds from FTX to make risky bets on financial markets without customer knowledge or consent.
