Former FTX boss Sam Bankman-Fried says he thought of himself as 'a model CEO'




ftx sam bankman-fried
ftx sam bankman-fried  
  • Sam Bankman-Fried said he considered himself a "model CEO who wouldn't become lazy or disconnected."

  • He said he will testify before the House Committee on Financial Services on Tuesday.

  • The FTX cofounder is facing scrutiny following the collapse of the crypto exchange.

Sam Bankman-Fried said he considered himself a "model CEO" before FTX collapsed, as he made another apology for the implosion of the crypto exchange.

"I had thought of myself as a model CEO, who wouldn't become lazy or disconnected. Which made it that much more destructive when I did," Bankman-Fried tweeted Friday

He added: "I'm sorry. Hopefully people can learn from the difference between who I was and who I could have been."

Bankman-Fried is facing investigations in the US and the Bahamas after being accused of misusing FTX customer funds to prop up his trading firm Alameda Research.

In a Twitter thread Friday, Bankman-Fried said he would testify before the US House Committee on Financial Services on Tuesday.

The confirmation came after the committee's chair, Maxine Waters, told him: "It's clear to us that the information you have thus far is sufficient for testimony."

Bankman-Fried tweeted: "I still do not have access to much of my data - professional or personal. So there is a limit to what I will be able to say, and I won't be as helpful as I'd like. But as the committee still thinks it would be useful, I am willing to testify on the 13th."

He is not expected to travel to Washington, DC, for the hearing, a person familiar with his thinking told The Wall Street Journal.

The former FTX CEO's comments follow a recent round of interviews in which he apologised for the collapse of the company.

 

In his interviews, Bankman-Fried made various comments including he felt his "biggest" mistake was filing for Chapter 11 bankruptcy.

The 30-year-old also told Bloomberg last week that billions of dollars customers wired to Alameda Research were gone because the companies were spending more than they made.

Bankman-Fried didn't immediately respond to a request for comment from Insider.

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