Sam Bankman- Fried doesn't know the status of his personal finances.
The former CEO said he had $100,000 in his account.
Bankman- Fried's net worth was $26 billion.
Sam Bankman-Fried is down to his last $100,000 after the collapse of FTX, he said on Monday.
The founder and investor of FTX took a huge hit when his net worth plummeted to $1 billion in a single day after news that the exchange needed a rescue.
Bankman- Fried told the outlet that he didn't know what his personal finances were like after the collapse. 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 get a rescue.
The collapse of FTX is being investigated by the Securities and Exchange Commission. Bankman- Fried was interviewed by the police in the country.
Bankman-Fried apologized for the collapse of FTX, citing a combination of higher-than- expected leverage on FTX's books and high customer withdrawals as contributors.
The quick breakdown of FTX may have been prevented by proper oversight, according to Bankman- Fried. He admitted his part in the debacle.
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.
Bankman-Fried's finances, lifestyle, and sponsorships have come under scrutiny. While he was known for a simple lifestyle, including cruising around in a Toyota corolla and practicing effective altruism, he also used his money to sponsor high-profile corporations.
Business Insider has an article on it.