Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
FTX Founder Admits Knowing "Basically Nothing" About Crypto When Starting Business

FTX Founder Admits Knowing "Basically Nothing" About Crypto When Starting Business

CointimeCointime2023/10/28 13:39
By:Cointime

Sam Bankman-Fried, the founder of FTX Exchange and Alameda Research, testified in his criminal fraud trial and admitted that he had no knowledge of cryptocurrencies when he started Alameda in 2017. CNN Business covered his testimony live for approximately seven hours, during which he revealed that he had no idea how cryptocurrencies worked and only knew that they could be traded. Bankman-Fried originally founded Alameda with a 20% chance of success, but his plans changed when the number of customers started to increase. He also expressed concerns about Alameda's lack of hedging strategies and wrote a memo suggesting the company should shut down operations due to "serious risks."

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like