FTX founder wants to start a new business & repay FTX creditors

Sam Bankman-Fried (SBF) said that he wants to start a new business to make money & further return to the FTX customers, which faced loss because of the downfall of the FTX exchange. 

Sam Bankman-Fried (SBF) is the founder of FTX exchange and he was CEO of this exchange but on 12 November after filing for bankruptcy he stepped down from his role. The current FTX CEO is John J. Ray III and he is playing an important role in all the legal proceedings of the FTX bankruptcy. 

On 10 December, SBF appeared in an interview with BBC. In the interview, he was asked by host if he’d start a new business to return funds to the former FTX investors. 

SBF said that he is going to try & he will do the best that he can in this situation at his potential. 

Further, he added:

“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,” SBF stored. “I think at the very least I have a duty to FTX users to do right by them as best as I can.”

Experts believe that SBF can’t start a business. He will not get much better support in terms of investors & service users because people are not gonna trust him at all, as he is a scammer & did a big fraud with the help of the FTX exchange. 

According to the FTX bankruptcy filing, there are approximately 1 million FTX Creditors and FTX exchange’s potential loss is ranging between $10 Billion to $50 billion. So far to this date after FTX collapse, SBF is under huge legal hurdles because of approximately a dozen lawsuits against him over the collapse of FTX exchange. 

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