Sam Bankman-Fried has seemed very keen to get one thing across in the media blitz he embarked upon last week. It’s not so much about owning up to having done anything unethical or unlawful (or not “knowingly” anyway); it’s more that he wants us to know he finds himself in a particularly uncomfortable emotional state: embarrassment.
“A mistake that I feel pretty embarrassed to have made (is that) I substantially underestimated what the scale of a market crash could look like,” the former chief executive of collapsed crypto exchange FTX told journalist Andrew Ross Sorkin in a live-streamed interview from the Bahamas. “I had embarrassingly little knowledge about what was going on,” he told crypto podcast The Block. “I was incorrect on Alameda’s balances on FTX by a fairly large number and (an) embarrassingly large one,” he told YouTuber Tiffany Fong.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you