Sam Bankman-Fried hopes to start a new business to repay people

• Sam Bankman-Fried plans to launch a new firm.
• He wants to repay FTX victims.
• The 30-year-old faces federal probes.

Sam Bankman-Fried plans to launch a new firm to repay FTX victims.

The 30-year-old faces federal probes into his former company’s finances.

Former millionaire denies fraud but claims he wasn’t as adept as he thought.

He “ruminates at night” over an arrest.

FTX allowed clients to trade regular money for Bitcoin.

It was the second-largest crypto exchange, exchanging $10bn daily.

Last month, FTX and Mr. Bankman-Alameda Fried’s Research were financially shaky.

Eight days later, bankruptcy was filed.

More than a million FTX users can’t access their crypto wallets.

Mr. Bankman-Fried invited the BBC to his Bahamas home and said he aims to repay FTX consumers.

“If users haven’t gotten much back, I’ll consider what I can do for them. I have an obligation to FTX users to help them as much as possible “said him.

When asked if he would create a new firm to repay investors, he said: “No.” “I’d love to do that. I’ll try.”

Lawyers have called the FTX scandal “one of corporate America’s most abrupt and hardest failures.”

They say Mr. Bankman-Fried runs the corporation as “his own domain.”

The US Senate Banking Committee wants the former CEO to testify next week, and he agreed.

Alameda Research hedge firm allegedly used FTX customers’ money to make dangerous investments.

A former top FTX employee who worked with Mr. Bankman-Fried told the BBC he believed the former CEO knew Alameda Research used customer monies.

He accused Bankman-Fried of lying when he said he didn’t know about cash and cryptocurrency movements between companies.

Mr. Bankman-Fried responded “no” and acknowledged that as CEO he was accountable for any mismanagement of monies. “That’s on me”

When asked if he was dishonest or inept, he said: “I didn’t conduct fraud knowingly, don’t think I did, didn’t want this to happen. I wasn’t as skilled as I believed.”

In six days, the American conducted nine self-critical interviews.

His team said they had to move because of “security issues” in his premium resort.

Reporters have taken photos of him in his apartment from the water, and at least two YouTubers have snuck in to make movies.

Mr. Bankman-Fried, who comes from an affluent family, claims to have “less than $100K remaining.”

“There’s some time at night ruminating, yeah, but when I get up during the day, I try to focus, be as productive as I can, and disregard things beyond of my control,” he added.

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