Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Cryptocurrency

Andrew Ross Sorkin speaks with FTX founder Sam Bankman-Fried during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 (Photo by Michael M. Santiago/Getty Images)

By Geoffrey Morris Leaders Staff

Geoffrey Morris

Senior Managing Editor

Geoffrey Morris is Senior Managing Editor, News, for Leaders Media. A career-long editor, he began as executive editor of National...

Full bio

  • LinkedIn

Learn about our editorial policy

Dec 1, 2022

SBF Talks … And Says A Lot

Sam Bankman-Fried (SBF) told DealBook’s Andrew Ross Sorkin on Wednesday that he screwed up, but did nothing wrong. “I had a bad month,” and am down to may last $100,000.

Key Details

  • SBF admitted that he “screwed up” and made major mistakes as CEO of FTX. There should have been more focus on risk management and protecting customers.
  • He should have paid more attention to the interconnectedness between FTX and Alameda Research, which he had major ownership in, over the past year.
  • The FTX founder and onetime billionaire says he “didn’t ever try to commit fraud.” He is talking out to try to make right for the investors who lost money.
  • SBF told Sorkin that he’s now down to one credit card and $100,000 in the bank. Some reports show that he had been worth $26 billion.
  • He says that he spent thousands of hours meeting with regulators about getting approval for FTX—and that he does not think there was under-regulation.
  • He believes that some customers, particularly those at FTX U.S., which is distinct from the international arm, could get their money back, but he says: “I can’t promise anyone anything.”
  • FTX and associated businesses filed for bankruptcy on November 8. On November 6, he began to see trouble, and on November 7, he says, “I was shocked” at what he saw regarding liquidity evaporation.
  • He says that he believes that he would be able to leave the Bahamas, where he has been living and operating FTX since 2019, if he wants to.

why it’s news

Andrew Ross Sorkin interterviewed disgraced FTX founder Sam Bankman-Fried live on Wednesday evening as part of The New York Times’ DealBook summit. At one point, Sorkin asked what SBF’s lawyer had told him about doing the interview. SBF says they thought it was a bad idea and advised him against it.

The fall of FTX has represented the largest bankruptcy in the history of cryptocurrency and its repercussions caused a weeklong collapse in the crypto economy as users attempted to pull billions of dollars out of the market. The longer bankruptcy lawyers dig into the company, the more complex the mismanagement of the firm is revealed to be. 

FTX was one of the world’s biggest crypto exchange platforms before it came crashing down earlier in the month. 

The failure of the large crypto exchange came as a surprise and brought fear to the sector causing many holders to sell causing many digital coins to drop quickly.

The fall of the platform happened very fast and left many people confused as to what happened and it turns out it was linked to risky bets gone wrong that the CEO called a poor judgment decision.

The fallout hurt many others including—the platform’s investors.

SBF was able to secure many big time investors for the platform that invested millions into the risky company.

Home / News / SBF Talks … And Says A Lot
Share
FacebookTweetEmailLinkedIn

Related Stories

Wall Street Makes $100 Billion Bet on Weight Loss Pills

by PJ Howland Leaders Staff
Investing

Oct 25, 2023

Ozempic

Investor optimism around a potential blockbuster obesity drug by Structure Therapeutics led to soaring share prices across the weight-loss pharma sector.

Key Details

  • Structure Therapeutics' stock jumped 35% after reporting positive results from early clinical trials of a once-daily weight-loss pill.
  • The experimental drug helped participants lose about 5% of their body weight over one month without side effects, although there are concerns with Ozempic.
  • Analysts predict the global anti-obesity medication market could reach sales of $100 billion by 2030, up from $71 billion currently.
  • With promising growth prospects, investors are betting on companies developing new weight loss drugs like Structure, Eli Lilly, Novo Nordisk, and Pfizer.

Go deeper

FacebookTweetEmailLinkedIn

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn
Chevron Gas Deal
Markets

Oct 23, 2023

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com