Sam Bankman-Fried to New York Times: "I Wasn't Running Alameda"
Former FTX CEO Sam Bankman-Fried took part in an interview today with the New York Times today during the publication’s DealBook Summit. He said that Alameda had roughly 10% leverage last year, but that market crashes reduced the value of its assets. Though Alameda was “still under two times leverage as of a month ago,” Bankman-Fried said, more than $10 million was “wiped off in a matter of days,” leaving FTX unable to liquidate that position and generate the money owed.
Sam Bankman-Fried: “I Never Tried To Commit Fraud”
The former billionaire defended himself from accusations of fraud, and claimed that FTX’s troubles stemmed from an accounting error.
Samsung’s Subsidiary Admits Exposure to FTX’s Collapse
A Samsung investment company participated in a $420 million funding round for FTX in 2021, which is a loss now amid the exchange’s bankruptcy.
Simply Explained: The Conflict Between Binance and FTX
Most market participants and watchers don’t know that this conflict dates back to 2019, but it’s only now that it’s felt.
FTX’s Crash Had a ‘Very Limited’ Impact on Singapore’s Economy, Claims DPM
Lawrence Wong – Deputy Prime Minister of Singapore – said major local financial institutions have “insignificant” exposure to cryptocurrencies and digital asset companies.
Tezos Co-founder Kathleen Breitman on FTX Fallout: A Lot of Goodwill Is Gone Now
Although Tezos co-founder Kathleen Breitman lived outside the U.S. for most of the past five years, she said it’s clear that a lot of doors in D.C. have closed.
FTX Proves MiCA Should Be Passed Fast, Officials Tell European Parliament Committee
European Securities and Markets Authority (ESMA) Risk Analysis & Economics Department head Steffen Kern <a href="https://www.esma.europa.eu/sites/default/files/library/public_statement_to_econ_sk.pdf" target="_blank">told</a> the committee that ESMA “has neither regulated nor supervised FTX” and has no “information on the company beyond what is in the public domain.” The ESMA does not see significant risks to the broader financial sector from the collapse of FTX given small portion of the total market represented by crypto and the limited connections between crypto and traditional finance.
Sam Bankman-Fried: “I Didn’t Ever Try to Commit Fraud on Anyone”
Former FTX CEO Sam Bankman-Fried (SBF) defended himself from accusations of fraud, and claimed that FTX’s troubles stemmed from an accounting error.
Warren: FTX Contagion Would Be Worse if Banks Were ‘Dangerously Intertwined’ With Crypto
Contagion spreading through the crypto industry could have been worse if federally-insured banks were “dangerously intertwined” with crypto, according to Sen. Elizabeth Warren, D-Mass.
Bankman-Fried Claims “Unknowingly Commingled Funds” at DealBook Summit
Bankman-Fried was speaking at the New York Times’ DealBook Summit via video conference on Nov. 30, in which journalist Andrew Sorkin noted “there appears to be a genuine commingling of the funds that are FTX customers that were not supposed to be commingled with your separate firm.”
