It's never a good sign when your public unravelling is described as “one of history’s greatest-ever destructions of wealth”.
“I fucked up,” he acknowledged to Vox. “Big…multiple times.” But perhaps “my single biggest fuckup,” he declared, was filing for bankruptcy after FTX failed to secure a bailout, leaving it on the brink of collapse. Around the same time, Bankman-Fried was booted as CEO, and the new regime, he asserted, is “trying to burn it all to the ground out of shame.” Had he just waited another month, he grumbled, he might have been able to unfreeze the withdrawal process and make customers whole.
The former FTX leader had cultivated relationships in Washington, testifying before Congress and speaking with regulators and lawmakers. It turns out that was all a sham. His real opinion, per Wednesday’s interview: “Fuck regulators.” After the article went live, SBF tried to do some damage control on Twitter, saying “there are regulators who have deeply impressed me with their knowledge and thoughtfulness”.
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