Disgraced FTX boss Sam Bankman-Fried says he hopes to ‘pay people back’

Disgraced crypto-exchange boss Sam Bankman-Fried has said he hopes to start a new business to make enough money to pay back victims of the FTX collapse.

The 30-year-old faces several federal investigations into his former company's handling of funds.

Speaking in a luxury complex in the Bahamas, the former billionaire denied fraud but told BBC Cyber Reporter Joe Tidy he was "not nearly as competent as I thought I was".

It is estimated that more than a million FTX users are locked out of their crypto wallets and cannot access their funds.