Disgraced tech bro Sam Bankman-Fried has sensationally confessed his commitment to ethics was ‘a front’ and he ‘feels bad’ for those who were ‘f***** by it’ – as he blamed his ex-girlfriend for the FTX crisis.
The founder of the failed crypto platform, whose collapse has cost consumers billions of dollars, admitted his efforts to appear moral during the company’s heyday were a ‘dumb game we woke Westerners play’.
He sensationally said blame for the disaster at FTX lay with Alameda Research, the trading firm which he founded in 2017 and was run by his on-off lover, Harry Potter enthusiast Caroline Ellison.
Bankman-Fried, who owned a majority stake in Alameda, installed Ellison, 28, as CEO of the multibillion dollar fund in October 2021 despite her limited professional trading experience.
He appears to accept FTX lent Alameda billions of dollars in clients’ money without their knowledge or permission. The crisis at FTX was triggered when customers rushed to withdraw their funds but the company couldn’t pay out.
Bankman-Fried, 30, lived in a $40 million penthouse in the Bahamas, a tax haven, with Ellison in a 10-person ‘polycule’ made up his inner circle of FTX and Alameda executives.
He made his latest string of sensational comments in a car crash interview with Vox reporter Kelsey Piper.
Serious questions are now being asked of SEC chair Gary Gensler who is facing scrutiny over his relationship with the disgraced crypto wunderkind – and the lack of oversight of the crypto market that Gensler has himself described as the Wild West.