Does SBF Regret Bailing Out Crypto Firms?

FTX CEO SBF admits their $1 billion bailouts did not have perfect results.

In an interview with Bloomberg, FTX chief Sam Bankman-Fried admitted that their bailouts had mixed results.

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Crypto exchange giant FTX signed deals worth about $1 billion to save several crypto firms this year amid the crypto downturn.

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“I think some were going to turn out to be profitable, some won't be,” the FTX chief said.

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The exchange had to make some snap judgment calls, SBF revealed.

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Bankman-Fried cited their deal with troubled crypto lender Voyager Digital Ltd. as one that went badly.

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SBF’s firm had offered a $485 million loan to Voyager, but it wasn’t enough to keep the company from filing for bankruptcy in July.

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SBF has already spent $34 million on lobbying this year alone.

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