SBF Is Unaffected by Jailtime and Plans to Start a New Business

Sam Bankman-Fried (SBF), the number one public opponent of Crypto, remains undeterred by the possibility of jail time. Moreover, he intends to launch a new enterprise to gather cash for FTX sufferers. According to the BBC, he said that he will attempt to launch a new firm from a Bahamas luxury apartment.

“I would give everything to have that ability. And I’ll do my best,” he told the publication over the weekend.

The 30-year-old is the subject of many federal investigations concerning FTX and Alameda’s mismanagement of consumer deposits. In addition, Alameda’s investment portfolio has prompted several issues regarding where and why the money went.

When questioned about the possibility of prison time, SBF acknowledged “ruminating at night” over it, but otherwise looked unaffected.

No information on new business initiatives was provided at this time. The interview seems to be the most recent in a series of media appearances. SBF is making every attempt to get absolution for any fault associated with the demise of the second-largest exchange in the world.

The BBC also talked with a former employee of FTX, who accused SBF of lying about knowing about Alameda’s use of cash. As CEO, Bankman-Fried accepted ultimate responsibility for any mismanagement of money.

However, he continued to deny fraud. He said, “I did not intentionally conduct fraud, I do not believe I committed fraud, and I did not intend for any of this to occur.”

According to the reactions, it was only another “puff piece.” This week, SBF has been asked to appear at two Senate sessions. According to U.S. politicians failure to appear will undoubtedly result in subpoenas.

Also Read: Senator Asks Gensler About ‘Regulatory Failings’

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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