It appears Sam Bankman-Fried is using the ‘Simple Jack’ defense…
Bankman-Fried started the interview by saying he’s deeply sorry about what happened.
“I didn’t ever try to commit fraud on anyone,” Bankman-Fried (SBF) said.
He claims he was shocked by what happened this month.
“I have limited access to data,” Bankman-Fried said about his attempt to reconstruct what happened over the past month.
Which makes us wonder – if he didn’t have the data, who did?
When pressed by Sorkin, Bankman-Fried said “I didn’t knowingly commingle funds”.
Which we note is not a denial, and as NYT notes, on the commingling of funds, there appears to be ample evidence suggests that Alameda and FTX shared an account at their U.S. banking partner Silvergate. Not sure how that could square with SBF’s claim that that didn’t occur, or wasn’t aware it was occurring.
Over and over again, SBF calls it an “accounting mistake” claiming that there was a difference between FTX’s audited financials vs FTX’s internal dashboards showing Alameda’s positions.
SBF tries to distance himself from the trading firm, claiming he did not have the bandwidth to run two companies (FTX and Alameda).
“I wasn’t running Alameda,” he says.
“I was nervous because of the conflict of interest of being too involved.”