Former FTX CEO Sam Bankman-Fried says he wants to start a new business

Sam Bankman-Fried, a failed former boss Crypto-exchange FTX said this week it hopes to start a new business to cover the losses of its investors in the company’s collapse.

the 30-year-old told the BBC An interview Published on Saturday he would “give anything” to start a new venture.

FILE: Sam Bankman-Fried, co-founder and chief executive officer of FTX in Hong Kong, China on Tuesday, May 11, 2021. (Photographer: Lam Yik/Bloomberg via Getty Images/Getty Images)

“I’m going to think about how we can help the world and what I can do for users if they don’t get much back,” he said. “And at the very least, I think I have an obligation to FTX users to do as well as I can.”

Ask if it’s ready Arrest is possibleBankman-Fried said: “There’s some buzz at night, yes, but when I wake up during the day, I try and focus, be as productive as I can and ignore the things that are out of my control.”

FTX Founder Sam Bankman-Fried Says He’s Ready to Testify Before House Committee

The failure of the cryptocurrency version of FTX Bank last month raised doubts about the financial strength of the company and its affiliated trading arm, Alameda Research, as customers tried to withdraw their assets at once.

Since its collapse, FTX’s new management has called cryptocurrency exchange governance “absolute.” Failure of corporate controls.”

Bankman-Fried said he took responsibility for the collapse and that he failed to understand the level of risk he was taking on both the Bermuda-based FTX and Alameda businesses.

One of the charges against Bankman-Fried is that he arranged for Alameda to place bets on the market for clients’ assets at FTX. Bankman-Fried has said in public interviews that she does not “knowingly” link clients’ assets to Alameda.

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Bankman-Fried said in a tweet Friday that she would be willing to testify in Congress next week, but that she would be limited in what she could say and “wouldn’t be as helpful” as she would have liked.

Bankman-Fried is currently based in the Bahamas.

The Associated Press contributed to this report.

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