SBF regrets declaring FTX bankrupt

The saga of FTX took a new turn today after a series of messages were published with its former CEO Sam Bankman-Fried. Regulators, ethics, and bankruptcy regrets, among other issues, have become the de jure conversation in tech since FTX burned down.

SBF said that everyone pretends that perception doesn't reflect reality. Some of the most beloved people will never be known, and some of the greatest heroes will never be.

SBF said that regulators make everything worse and that they don't protect customers at all. The approach and tone are notable given that SBF will soon face the American Congress.

His take on regulators is based on his belief that their methods of control are too simplified and that they should just do more business.

SBF was a well-known person in the 'effective altruism' movement, a method of helping others that focuses on what is practical. He was an active political donor and kept in the media spotlight.

He wrote that he didn't want to do "slutty stuff" as there are " huge negative effects from it." John J. Ray III became the new CEO of FTX after SBF stepped down.

Ray said that Mr. Bankman-Fried has no ongoing role at FTX and does not speak on their behalf.

The leader of the world's largest coin exchange was brought up by SBF in the conversation. After the FTX debacle, the attention of the world on the different business approaches and leverage of the two companies changed.

He asked if the shift in his view of the market perception of CZ was due to his being virtuous, or simply having had. CZ comments about the native token of FTX are seen by some as a cause of the collapse of the exchange, but where blame lies is not yet clear.

Bankman-Fried says that he was told to file for Chapter 11 bankruptcy. If he hadn't filed for bankruptcy, withdrawals would be open in a month.

The people in charge of it are trying to burn it all to the ground because they are embarrassed. He was asked if he was suggesting that he should have kept trying to raise the money. He may still get there, but with more damage.

It's correct that damage is correct. Smaller individuals and businesses that had assets on the platform are still feeling the impact. MIT Media Lab canceled its fellowship because of the fall-out.

If not volumes, there are whole chapters. For those of us who are observing and reporting, SBF continues to speak.