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FTX Founder Sam Bankman-Fried Says He Can’t Account for Billions Sent to Alameda

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Entrepreneur says he had little insight into workings of trading firm even though he owned 90% of it

FTX founder Sam Bankman-Fried sat down with The Wall Street Journal to discuss what happened to the billions of dollars deposited by the exchange’s customers. This interview has been edited for length. Photo: Kenny Wassus/The Wall Street Journal

NASSAU, Bahamas—FTX founder Sam Bankman-Fried said he couldn’t explain what happened to billions of dollars that customers of his failed cryptocurrency exchange sent to the bank accounts of his trading firm, Alameda Research.

And he said he couldn’t rule out the possibility that money deposited by FTX customers who were told their money was theirs alone was in fact lent to Alameda.

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