The central theses

  • In a dialog printed as we speak, FTX CEO Sam Bankman-Fried mentioned his actions throughout FTX’s collapse.
  • 255 BTC ($4.2 million) of funds taken from FTX have been apparently deposited on crypto change OKX.
  • BlockFi’s chapter submitting revealed that the corporate froze $355 million in FTX.

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Weeks after its collapse, FTX stays a spotlight of the crypto information cycle.

SBF interview leaked

FTX CEO Bankman-Fried made headlines on Tuesday, November 29 after giving YouTuber Tiffany Fong a cellphone interview by which he put lots of his previous actions into a bigger context.

Throughout the name, Bankman-Fried supplied particulars on why FTX briefly reopened withdrawals within the Bahamas throughout its collapse. Whereas early statements instructed the corporate had complied with regulators, Bankman-Fried admitted the corporate had reached out to regulators and acquired no response inside a day.

“They did not reply, after which we did,” Bankman-Fried stated, implying that the choice “was important to the way forward for the change.”

Bankman-Fried additionally stated his attorneys advised him to not admit wrongdoing, referring to an apology he posted on Twitter on Nov. 10, by which he wrote, “I am sorry… I screwed up.” .” Bankman-Fried stated his attorneys advised him, “You must promise you may by no means say you screwed up ever once more.”

Different FTX developments

Extra information about FTX have come to mild. In the present day, impartial crypto detective ZachXBT claimed to have been monitoring the motion of funds that have been mysteriously withdrawn from FTX in early November. ZachXBT believed the perpetrator transferred 255 BTC ($4.1 million) to crypto change OKX after mixing funds through ChipMixer.

The Texas Tribune acknowledged that Texas Democratic nominee Beto O’Rourke returned a $1 million donation from Bankman-Fried. O’Rourke reportedly returned the donation as a result of it was unsolicited, not due to controversy surrounding FTX. The funds have been returned on November 4 earlier than the inventory market collapsed. In that regard, the authors of the In style Data sub-stack indicated that no less than seven different politicians had additionally returned funds donated by FTX executives previous to Nov. 16.

Lastly, BlockFi’s chapter proceedings have revealed that the lending firm has deeper ties to FTX, together with $335 million in property frozen on the FTX change. BlockFi has additionally sued Bankman-Fried to grab Robinhood inventory as soon as pledged as collateral. Yesterday’s submitting indicated that the corporate owed FTX $275 million.

Disclosure: On the time of writing this text, the creator of this text owned BTC, ETH and different digital property.

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