Crypto Community weighs in on SBF’s ‘apology tour’

The Former CEO of FTX, Sam Bankman-Fried, known also as SBF, has seemingly begun to embark on an apology tour to redeem his image a month after the sudden implosion of FTX, which revealed the exchange’s improper use of customer and investor funds. 

OnNov 30, Bankman-Fried made his first live public appearance since the collapse of FTX — answering a number of questions during the DealBook Summit in New York. In the interview, Bankman-Fried claimed to have “unknowingly commingled funds” between Alameda and customer funds at FTX. He shared:

 “I unknowingly commingled funds. […] I was frankly surprised by how big Alameda’s position was, which points to another failure of oversight on my part and failure to appoint someone to be chiefly in charge of that.”

In another interview that aired on the morning of Dec. 1 on Good Morning America, Bankman-Fried denied any knowledge of “improper use” of customer funds. According to him, he had no knowledge of FTX customer deposits being used to pay Alameda Research’s creditors, as claimed by Alameda Research CEO, Caroline Ellison.

In a Twitter Spaces hosted on Dec 1 with IBC Group founder and CEO, Mario Nawfal, SBF once again pleaded ignorance about what was occurring with his companies. When asked about what actually happened, his responses were very vague. “I, you know, basically, and I should caveat this by saying that I, unfortunately, don’t have access to most of the data right now,” he said.

Following SBF’s denial and apology media tour, the crypto community has taken to social media to express their sentiments about it all. 

Mary Katharine Ham, CNN TV Host shared that she thought the media has been more hostile to Elon Musk than to the “supervillain” SBF who lost billions of dollars in “people’s life savings”. “The tone is pretty astonishing”, she said in reaction to the tone of SBF’s Good Morning America interview with George Stephanopoulos.

This says “supervillain,” but he’s not being treated like a supervillain. Media is more hostile to Musk for spending his own money than to SBF for losing a couple billion in people’s life savings. The tone is pretty astonishing. https://t.co/BiPhWfW0rJ

— Mary Katharine Ham (@mkhammer) December 1, 2022

Lefteris Karapetsas shared in reaction to the NYT’s DealBook Summit interview; “A man who stole $10B, @SBF_FTX just got interviewed, portrayed almost as a victim and got an applause at the end. Still free and fine. Aaron Swartz,…