Sam Bankman-Fried said that he didn’t intend to commit any fraud or use customer funds to back leveraged bets that went wrong at Alameda Research, a cryptocurrency hedge fund attached to FTX that pushed the exchange to bankruptcy.
Mr. Bankman-Fried, speaking at the DealBook Summit in New York, denied knowingly commingling customer funds to back his crypto trading operation and said he was surprised at the size of Alameda’s bets that went wrong, which he called a “failure of oversight on my part.”
