FTX CEO Denies Committing Fraud

Sam Bankman-Fried, the former boss of collapsed cryptocurrency exchange FTX, has denied committing fraud. Making his first public appearance since the collapse, the man once hailed as the ‘King of Crypto’ told The New York Times he had had a “bad month” and had almost no money left.

FTX fell apart last month, having once been valued at $32bn (£26.5bn). Many investors have not been able to withdraw their funds from the now bankrupt global exchange.

Mr Bankman-Fried, 30, also said his lawyers had advised him not to speak publicly, but he had ignored them. He denied having moved any personal money out of FTX himself – saying he now has “close to nothing.” Speaking from The Bahamas, he said he had one credit card left which had around $100,000 of debt on it.

By Evey Lovelace

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