Did FTX have money at the time of its bankrupcty? This is what SBF had to say about it.
An interview between the Former FTX CEO Sam Bankman-Fried ‘SBF’ and George Stephanopoulos aired on Good Morning America on Dec. 1., SBF was insistent that FTX was not a “Ponzi scheme” but was “a real business.” The former CEO also denied any knowledge of FTX customer deposits being used to pay Alameda Research’s creditors, as reportedly claimed by Alameda’s CEO Caroline Ellison. According to him, he had no knowledge of “any improper use of customer funds”.
"There is something maybe even deeply wrong there, which was, I wasn't even trying. Like, I wasn't spending any time or effort trying to manage risk on FTX and that was obviously a mistake.” Following the collapse of FTX, the former billionaire has allegedly lost his fortune. He claimed to now have only $100,000 in his bank account, and just one ATM card, after his net worth was previously valued at an estimated $20 billion.
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