Bloomberg Law
Aug. 31, 2022, 12:00 PM

Sam Bankman-Fried Says His Crypto Bailouts Had ‘Mixed Results’

Hannah Miller
Hannah Miller
Bloomberg News

Sam Bankman-Fried, chief executive of digital asset exchange FTX, said his efforts to bail out companies during the crypto market downturn have had “mixed” results.

The 30-year-old billionaire engineered deals worth about $1 billion to backstop struggling companies after the prices of cryptocurrencies like Bitcoin declined sharply in the spring and summer. Not all of these bailouts had a happy ending, Bankman-Fried said in an interview on Bloomberg’s “David Rubenstein Show: Peer-to-Peer Conversations.”

“I think some were going to turn out to be profitable, some won’t be,” Bankman-Fried said. “We had to make snap judgment calls.”

He pointed to a ...

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