FTX's crypto villain Sam Bankman-Fried admits 'I made a lot of mistakes'
SBF said he sensed that FTX was in trouble and its Alameda entanglements were to blame, and tried to recover FTX's liquidity.
He tried to explain real estate investments in the Bahamas as a recruiting tool to lure talent from Silicon Valley.Asked if investors in FTX bear responsibility for the company's collapse, SBF disagreed that they should have conducted greater oversight. The nature of venture capital, he said, is to look for a big exit and not to ponder all the ways an investment could fail.
"What matters here is the millions of customers. What matters here is all the stakeholders in FTX who got hurt, and trying to do everything I can to help them out." While he has made efforts to understand the cause of FTX's collapse, he said"Over the last month I have limited access to data." His analysis is therefore a mixture of memory and informed guesswork.
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