During a December 10 interview with the BBC, Sam Bankman-Fried, the founder and former CEO of the now-defunct crypto exchange FTX, stated that he would like to form a new venture with the intention of repaying customers he owes money to.
“I want to do right by FTX users and figure out what I can do to help them, so I’m going to be exploring different options,” he said.
Bankman-Fried added, “I’m willing to do anything to try and make this happen.”
The bankruptcy filing of Nov. 14 indicates SBF’s exchange may be facing more than 1 million creditors. The amount of money lost as a result of this case is estimated to be between $10 and $50 billion.
During his media apology tour, Bankman-Fried reiterated that he “did not knowingly commit fraud and [he] does not believe that [he] did.”
He also conceded that he was “not nearly as competent as [he] thought [he] was.”
Subsequent to days of negotiations between Maxine Waters, a US House Representative, and SBF, the FTX founder, it has been confirmed that he will appear as a witness in the December 13 hearing, “Investigating the Collapse of FTX, Part I”, in the House Committee on Financial Services.
His name is now officially registered on the list of witnesses, alongside John Ray, the new FTX CEO, who was already included on Dec. 9.