SBF Unfazed Over Jailtime, Plans to Run New Business

In Brief

• SBF wants to start a new business to make things right.
• He appeared unfazed about jailtime in a recent BBC interview.
• The former FTX CEO still denies committing fraud.

Crypto’s public enemy number one, Sam Bankman-Fried (SBF), appears unfazed about potential jail time. Furthermore, he plans to start a new business to raise funds for FTX victims.

Former FTX CEO SBF has been on a media spree recently. According to the BBC, he said he was going to try to start a new business from a luxury apartment in the Bahamas.

“I would give anything to be able to do that. And I’m going to try if I can,” he told the outlet over the weekend.

The 30-year-old faces several federal investigations into FTX and Alameda over its mishandling of customer deposits. Furthermore, Alameda’s investment portfolio has raised a lot of questions about where the money went and why.

SBF Ruminating Over Jailtime
When asked about potential jail time, SBF admitted to “ruminating at night” over it though appeared generally unfazed.

At this stage, no details on new business ventures were offered. The interview just appears to be the latest in a string of media appearances. SBF is making every effort to seek absolution for any wrongdoing relating to the collapse of the world’s second-largest exchange.
He stated:

“I’m going to be thinking about how we can help the world and if users haven’t gotten much back, I’m going to be thinking about what I can do for them. And I think at the very least I have a duty to FTX users to do right by them as best as I can.”

The BBC also spoke to a former FTX employee who accused SBF of lying about knowledge of Alameda’s usage of funds. Bankman-Fried denied the accusation but admitted ultimate responsibility for any mishandling of funds as CEO.

However, he still denied committing fraud. “I didn’t knowingly commit fraud, I don’t think I committed fraud, I didn’t want any of this to happen,” he said.

The responses suggested that it was just another ‘puff piece:’
Will He Testify This Week?

SBF has been called upon to testify at two Senate hearings this week. However, according to U.S. lawmakers, failure to attend is likely to result in subpoenas.

On Dec. 9, he said he was willing to testify but did not have much access to professional or personal data. “There is a limit to what I will be able to say, and I won’t be as helpful as I’d like,” he added.

Furthermore, as reported by BeInCrypto, SBF could also face a market manipulation investigation. Last week, federal prosecutors linked his exchange with the collapse of the Terra ecosystem back in May.

Disclaimer
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.