SBF went on to comment on FTX’s FTT coin. “I think it had real value. That being said, there are a few problems. […] This was f*****g embarrassing given my background. […] I think it was basically more legit than a lot of tokens in some ways. Its was more economically underpinned than the average token was,” he said. “Illiquidity didn’t cause the crash,” SBF continued. Rather, it was “the massive correlation of things during market moves, especially when they are triggered by fear over the position itself.” SBF agreed with Fong that “the recovery looks pretty slim” for international customers, while “U.S. is a hundred percent. If its Amazon account had not been turned off, “they could already be withdrawing.” Speaking about his political activities, SBF said, “I donated about the same to both parties. […] All of my Republican donations were dark.” […]
In the second, undated, phone interview, SBF addressed the use of FTX customer funds by Alameda Research. Struggling for words, SBF said that he should have thought more about “what a hyper-correlated cross-scenario looks like. It’s the oldest game in the book in finance. […] There was no one person in charge of monitoring risk positions at FTX.” Fong pressed for specifics from the situation, with little success. SBF took a moderate position on the role of Binance CEO Changpeng Zhao (CZ) in the FTX downfall. “Things would certainly be a lot more stable and there would be a lot more ability to generate liquidity […] and I don’t know for sure.” Asked about the impact of the collapse of FTX and surrounding scandal on him, SBF said, “I wake up each day and think about what happened, and I have hours per day to ruminate on it. […] It’s different than what it seems to other people.”
Read more of this story at Slashdot.