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At 5:00 PM ET/2:00 PM PT on Wednesday, the internet will turn its attention to The New York Times DealBook Summit, where the founder of failed cryptocurrency exchange FTX, Sam Bankman-Fried, has promised to sit down for a live interview.
He confirmed his plans to speak at the event in New York last week, during which DealBook founder Andrew Ross Sorkin said “nothing is off limits.” There are a lot of important questions that need to be asked and answered,” Sorkin wrote in a tweet confirming last week’s interview.
Bankman-Fried was scheduled to speak at the conference despite the dramatic implosion of FTX, which was the world’s second-largest cryptocurrency exchange until it filed for bankruptcy earlier this month. Since then, Bankman-Fried and his team have been accused of mismanaging billions of dollars in client funds.
FTX’s new CEO, John J. Ray III, called the situation a failure unlike any he had seen. And given that he helped deal with the aftermath of Enron, one of the most infamous financial collapses of the past few decades, that’s saying something. “Never in my career have I seen such a complete failure of corporate control and such a complete lack of reliable financial information as occurred here,” he wrote in Statement in court in November.
The FTX founder, who was also a prolific political donor, is also scheduled to testify before the US House Financial Services Committee in December about FTX’s collapse and bankruptcy filing.
Bankman-Fried is scheduled to speak at 5:00 PM ET/2:00 PM PT on Wednesday.
Where
The New York Times is offering live coverage of the New York event on its DealBook website. CNET will cover Bankman-Fried’s comments as they happen.
What can we expect
Bankman-Fried gave several interviews after the FTX collapse, admitting to Vox that he “screwed up. Big. Several times”. Now that he is no longer the CEO of FTX and is under investigation for possible fraud, it will be interesting to hear what he has to say.
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