Former billionaire admits to playing video games as his company went under
The boss of failed cryptocurrency exchange FTX has claimed he “wasn’t concentrating” on his digital coin business as it spiralled towards collapse.
Sam Bankman-Fried admitted to borrowing funds from his cryptocurrency exchange for its sister trading business, in his first interview since his web of digital coin companies filed for bankruptcy protection in the US.
The $32bn (£27bn) collapse of FTX has shaken the cryptocurrency world and left thousands of customers unable to access their deposits. Mr Bankman-Fried told the New York Times: “It could be worse.”
The former billionaire, who saw his estimated $16bn net worth wiped out by the collapse of FTX, admitted to playing video games to “unwind a bit” as the company went under.