Sam Bankman-Fried says he only has $100,000 left in his bank account after FTX collapse: report

Sam Bankman- Fried, the former CEO of the FTX exchange who once had a new worth of $26 billion, is down to his last $100,000 after the collapse of the exchange.

The investor's net worth plummeted from $15.6 billion to $1 billion in one day after FTX needed a rescue.

Bankman-Fried didn't know what the state of his finances was after the collapse.

He asked if he could say a bad number. I don't know. I'm not sure. Last I checked, I had $100,000 in my account.

Bankman- Fried said his financial situation was complicated because he was tied up in the failed company.

Bankman-Fried resigned as CEO of FTX after the company failed to secure a rescue following reports that the exchange had transferred billions of dollars of client funds to his research firm. His personal finances have come under scrutiny as FTX creditor work to determine if there is anything salvaged.

The former CEO apologized for the implosion due to a combination of higher-than- expected leverage on FTX's books and high customer withdrawals.

According to Bankman- Fried, proper oversight may have prevented the breakdown of FTX.

I would have liked to have been more careful. I apologize for this. He told the outlet that he has been focusing on volume. I should have been more aware of what was happening.