Competition exchanges are starting to distance themselves from disgraced former FTX CEO Sam Bank as the dust settles on the exchange's collapse.
"If you find an extra $8 billion to spend, you're definitely going to notice, because I don't care how messy your accounting is or how rich you are," said Brian Armstrong over the weekend.
He said that even the most gullible person shouldn't believe Sam's claim.
The second biggest exchange in the world by trading volume was referring to Bankman-Fried leaving a huge hole in FTX's books.
It's stolen customer money used in his hedge fund.
According to reports, FTX may have secretly funneled $10 billion worth of funds to Alameda Research, co-founded by Bankman- Fried.
Between $1 billion and $2 billion in client money is not accounted for.
Bankman- Fried said that the funds were not secretly transferred. It was confusing and we didn't know what to say.
As a result of FTX's collapse, many exchanges have distanced themselves from each other while trying to portray themselves as more trustworthy alternatives.
Less than a week after FTX filed for bankruptcy, a full page ad in The Wall Street Journal titled " Trust Us" was published.
During a New York Times interview last week, Bankman- Fried claimed that he "unknowingly commingled funds" between FTX and Alameda.
It's not clear if his mea culpas will make for a compelling case in court.
The CEO of the company rejected the accounting error and said funds were obviously stolen.
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