STOLEN! Sam Bankman-Fried Apologizes For Stealing Life Savings

#shorts
One of the biggest questions around this debacle is if there was any misuse of funds between Alameda and FTX. For some context, Alameda began struggling to pay lenders back as crypto prices began falling. As a result, it used FTX customer funds to make lenders whole; a move that both showed Alameda’s lack of assets, and triggered part of the crash when FTX customers began the crypto exchange equivalent of a run on the bank.

When pushed by Sorkin, SBF said that he didn’t “knowingly co-mingle funds” between Alameda and FTX. “Given the size of the position, I think it was not our intention, it was, in effect, tied together substantially more than I would have ever wanted to be,” he said.

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