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Our TV Presents: The FTX Implosion

NASSAU, BAHAMAS – Former CEO of FTX Digital Markets Sam Bankman-Fried says he is still struggling with the events that led to the downfall of The Bahamas-based crypto exchange.

Published

1 year ago

December 8, 2022

Our News

NASSAU, BAHAMAS – Founder and former CEO of the now imploded FTX Digital Markets Sam Bankman-Fried says he is still struggling with the events that led to the downfall of the Bahamas-based crypto exchange.

In his first local exclusive sit-down interview with our Jerome Sawyer this week, the 30-year-old who had a net worth of billions just a month ago acknowledged recently, there was a borrowing-lending facility at the cryptocurrency exchange but did not know of deposits to pay its affiliated trading firm Alameda Research.

The relationship between Alameda and FTX is now known as the root cause of his downfall.

We recently learned that $10 billion of FTX customer funds were moved to Alameda Research characterized as a secret.

In the exclusive chat, which airs in an hour-long special on Our TV at 8pm Sunday, Bankman-Fried admitted he did a “pretty incomplete job” at managing risks in FTX, but still insisted he had a plan to move the company forward.