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Users of FTX US will receive a full refund, according to SBF

Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, has been intermittently appearing on Twitter and is scheduled to speak at the DealBook Summit of the New York Times on November 30 for the first time.

Recently, a transcript of Tiffany Fong’s phone conversation with SBF surfaced. According to reports, the interview took place five days after FTX declared bankruptcy on November 11. SBF makes a few exaggerated statements concerning fund recovery in this interview.

Keep in mind that SBF is no longer in command of any FTX companies and has been fired from the company’s activities. But he assured customers of FTX US that they would receive a complete refund. SBF added in his telephone interview:

“If nothing happens, if I can never do anything again… FTX users will get a dollar on the dollar, FTX will get 25 cents on the dollar”.

He continued by saying that declaring Chapter 11 bankruptcy was a mistake and that he would be willing to do whatever to have it reversed. When asked about bankruptcy during his interview, SBF responded as follows: “You can blame the fucking idiot you’re talking to for actually filing this document, I should have just said no… it was the right thing to do to not file – I would do anything to unfile that right now”.

SBF made the following statement in a way that might be taken as a joke: “8 f*cking minutes after I filed for bankruptcy $4B more came in of liquidity.”

 

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