FTX Founder Sam Bankman-Fried Calls Leadership Handover His 'Biggest Mistake' Amid Collapse
FTX Founder Sam Bankman-Fried Calls Leadership Handover His 'Biggest Mistake' Amid Collapse
Sam Bankman-Fried, the founder and former CEO of the now-defunct cryptocurrency exchange FTX, has publicly stated that his decision to transfer control of the firm to new leadership during its bankruptcy proceedings was his 'single biggest mistake'. Bankman-Fried believes this move ultimately prevented him from saving the company from its imminent collapse.
FTX Founder Sam Bankman-Fried Regrets Ceding Control Amid Exchange Collapse
Sam Bankman-Fried, the founder and former CEO of the defunct cryptocurrency exchange FTX, has identified the decision to hand over the firm to a new leader during its bankruptcy saga as his “single biggest mistake.” According to the former crypto executive, this move deterred him from saving the company from collapsing at the last minute. Bankman-Fried's statement reflects on the critical choices made during the turbulent period leading to FTX's downfall, a collapse that sent shockwaves throughout the broader cryptocurrency market.