Rekt Tech partner Robert Mowry joins 'Cavuto: Coast to Coast' to talk about his conversation with FTX's Sam Bankman-Fried and the investigation into the FTX crash.
Sam Bankman-Fried, the disgraced former boss of the failed crypto-exchange FTX said this week that it hopes to start a new business to recoup its investors' losses in the company's collapse.
The 30-year-old told the BBC in an interview posted Saturday that he would "give anything" to start a new company.
FILE - Sam Bankman-Fried, co-founder and CEO of FTX, in Hong Kong, China, Tuesday, May 11, 2021. (Photographer: Lam Yik/Bloomberg via Getty Images/Getty Images)
"I'm going to think about how we can help the world and if users haven't received much, I'm going to think about what I can do for them," he said. "And I think that, at the very least, I have a duty to FTX users to do what's right for them to the best of my ability."
Ask if he was ready for the possibility of arrestBankman-Fried said: "There's a time at night ruminating, yes, but when I get up during the day, I try to focus, be as productive as possible, and ignore things that are out of my control."
FTX FOUNDER SAM BANKMAN-FRIED SAYS HE IS WILLING TO TESTIFY BEFORE HOUSE COMMITTEE
FTX flopped last month in what was essentially a cryptocurrency version of a bank run, as clients tried to cash out their assets all at once amid growing doubts about the financial soundness of the company and its affiliated trading arm, Alameda Research.
Since its collapse, FTX's new management has called the cryptocurrency exchange's management a "complete failure of corporate controls."
FILE: Sam Bankman-Fried, founder and former CEO of FTX Cryptocurrency Derivatives Exchange, speaks during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, U.S., Wednesday, Aug. 17, 2022. (Photographer: Jeenah Moon/Bloomberg via Getty Images/Getty Images)
Bankman-Fried has said it takes responsibility for the collapse and that it failed to understand the amount of risk Bermuda-based FTX and Alameda were taking on both businesses.
One of the accusations against Bankman-Fried is that he arranged for Alameda to use clients' assets in FTX to place bets on the market. Bankman-Fried has said in public interviews that he did not "knowingly" mix client assets with Alameda.
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Bankman-Fried said in a tweet on Friday that he is willing to testify before Congress next week, but that he will be limited in what he can say and "will not be as helpful" as he would like to be.
Bankman-Fried is currently in the Bahamas.
Associated Press contributed to this report.
