Hope For FTX Victims: SBF Hopes To Pay Victims Back With Proceeds From A New Business.

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Personally, I do love the idea of wanting to pay back victims of the unfortunate crash, however, if his new business plan requires yet another set of investors, I honestly cannot picture how it’ll work. I mean, it's hard to see how yet another group of investors might be credulous enough to invest money in SBF's newest endeavor. But hey, what do I know? Even he has openly stated that one of the reasons for FTX’s crash was because he wasn’t precisely as competent as he had believed he was.

Despite the fraud allegations, Sam Bankman-Fried has continued to reiterate his stance that the crash of the FTX platform was not a result of fraudulent actions, but rather a dearth of the necessary leadership abilities. Furthermore, he plans to make atonement by starting a new firm in the hopes that it would be profitable enough for him to repay the victims.

In a recent interview for BBC, SBF pledged to do everything he can to restore investors’ losses due to his exchange’s meltdown, including launching a new project that could possibly provide him with the necessary funds:
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In the wake of the FTX crash, there were also accusations that his sister business, Alameda Research, was mishandling client funds. A rumor that he has publicly denied.

He maintains the opinion that if he committed fraud, it wasn’t intentional. Considering how much customer money has gone down the drain, I wouldn’t call it an unintentional act.

In my opinion, he should be held accountable for all of this mess. The customers trusted him that much with their assets, and all he did was shove that trust right back in their faces. A lot of organizations and individuals have paid dearly for it. Imagine watching your own assets deplete right before your eyes, with no option for withdrawal.

Numerous authorities and prominent individuals urged SBF to shed more light on the crisis and take responsibility for it. The former executive is expected to testify before the US House Committee on Financial Services in December.
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