Sam Bankman-Fried admits FTX ‘sure should have’ done more to protect customers’ money
In an exclusive interview, Sam Bankman-Fried, the CEO of crypto exchange FTX, admitted that the company “sure should have” done more to protect its customers’ money from the recent DeFi flash crash, which saw massive losses across multiple protocols. The crash left many investors’ funds locked up in vulnerable projects, and while FTX put up $5 million to mitigate some of the losses, Bankman-Fried conceded that more could have been done. He said the company is now taking preventive actions to “mitigate these risks going forward,” such as introducing new safety measures and providing better customer support.