Sam Bankman-Fried, former chief executive officer of failed cryptocurrency exchange FTX, seemed to point to the activities of his company’s brokerage arm as the reason his business collapsed, when he spoke at the New York Times DealBook Summit on Wednesday. 

Former FTX CEO Sam Bankman-Fried is under scrutiny by prosecutors over the relationship between crypto exchange FTX and trading firm Alameda Research. SBF has reportedly made customers wire transfer money to FTX through <a href="https://coingape.com/just-in-ftx-alameda-research-contagion-could-spread-to-these-banks/" target="_blank">Alameda bank accounts at Silvergate</a> and other banks.

Former FTX CEO Sam Bankman Fried in a recent appearance at the Dealbook summit discusses his journey from once hailed as the poster child of responsible crypto to facing fraudulent charges over FTX collapse. Notably, after media reports disclosed anomalies in the company’s balance accounts. On November 11, the FTX applied for Chapter 11 bankruptcy protection in Delaware.

Most market participants and watchers don’t know that this conflict dates back to 2019, but it’s only now that it’s felt.

Former FTX CEO Sam Bankman-Fried (SBF)&nbsp; defended himself from accusations of fraud, and claimed that FTX’s troubles stemmed from an accounting error.

Speaking at the <i>Financial Times</i> Crypto and Digital Assets Summit,&nbsp;<a href="https://decrypt.co/resources/cardano" target="_blank">Cardano</a>&nbsp;founder Charles Hoskinson&nbsp;said that the crypto industry “has never been stronger in terms of its offerings to the tradfi [traditional finance] marketplace and to the world as a whole,” but that recent collapses such as FTX have demonstrated the need for decentralization and proof of reserves.

Auros Global, a crypto trading firm, is the latest to face liquidity problems following the FTX collapse as it missed payment Wednesday on a decentralized finance (DeFi) loan.

Asset manager Blackrock is one of the big names associated with investments in bankrupt crypto exchange&nbsp;<a href="https://coingape.com/tag/ftx/">FTX</a>. In a latest, Larry Fink, the chairman and CEO of BlackRock, made some interesting comments on the Sam Bankman-Fried crypto empire collapse. He said Blackrock had a $24 million investment in FTX, which filed for bankruptcy earlier in November. The crypto exchange faced a significant liquidity crunch linked to alleged diversion of user funds to other companies owned by&nbsp;<a href="https://coingape.com/tag/sam-bankman-fried/">Sam Bankman-Fried</a>.

On Tuesday, 29 November, the leading Solana wallet, Phantom, <a href="https://twitter.com/phantom/status/1597597365774749697?t=Pq8aq4lFRYf1q_T9PWu8rw&amp;s=19" target="_blank">announced</a> that it would enable functionality for assets on the <a href="https://ambcrypto.com/polygon-traders-going-short-on-matic-can-watch-out-for-these-levels/">Polygon</a> and <a href="https://ambcrypto.com/reasons-eth-investors-can-be-disappointed-despite-ethereums-latest-milestone/">Ethereum</a> blockchains.

The Japanese subsidiary of Sam Bankman-Fried’s failed crypto empire FTX has put together a draft plan for clients to withdraw funds, in what would be one of the rare cases of investors getting money back from the collapsed exchange.

Sam Bankman-Fried, former CEO and founder of collapsed crypto exchange FTX, is down to $100,000 from the approximately $17 billion he was worth in early November.&nbsp;

Former FTX CEO Sam Bankman-Fried has been called to a Feb. 2 hearing by the Texan securities regulator as part of an investigation into whether he and FTX US have violated Texas securities laws.&nbsp;

Speaking about the events that lead to FTX’s collapse, SBF expressed that it was a combination of multiple events. He said,

The founder of the infamous crypto exchange, FTX – Sam Bankman-Fried has spilled quite a lot of tea in recent interviews. The man once hailed as the crypto mogul revealed that he has lost almost all of his wealth. Speaking with Axios, SBF <a href="https://www.axios.com/2022/11/29/sam-bankman-fried-100000-ftx-cftc-regulation" target="_blank">claimed</a> that his bank account had $100,000 the last he checked.

Bankman-Fried addressed rumors that he helped Ukraine launder funds for the Democratic Party, an accusation that FactCheck.org, a nonpartisan nonprofit for voters, calls false. "There is no evidence to support the claim that Ukraine invested in or gave money to FTX," the group said in an article debunking the conspiracy theory.

Sam Bankman-Fried did not commit crimes because of a philosophy of Effective Altruism, but because he is a psychopath who pretended to do good in order to boost his public image.

As for whether Bankman-Fried created a “backdoor” to discreetly move user funds to Alameda without attracting attention as <a href="https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/">reported by Reuters</a>, Bankman-Fried suggested that “I certainly didn't build the back door in there and I don't know exactly what they're referring to.”

Binance.US and Coinbase (COIN) are on a list of crypto companies questioned this week by the chairman of the U.S. Senate Finance Committee about how they protect the investors using their services in light of the widespread damage caused by the fall of FTX.

Crypto lender BlockFi filed for Chapter 11 bankruptcy protection on Monday, <a href="https://www.coindesk.com/policy/2022/11/28/ftx-fallout-continues-as-crypto-lender-blockfi-declares-bankruptcy/">saying</a> it<b> </b>hoped to restructure while it continues its operations. BlockFi received a $400 million line of credit from bankrupt exchange FTX earlier this year and has about $257 million in cash on hand, according to <a href="https://www.businesswire.com/news/home/20221128005451/en/">a press release</a>.

According to Variety, Amazon Studios has commissioned an eight-episode limited series about bankrupt crypto exchange FTX.