SBF Eyes New Business to Repay Creditors

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The former CEO of the insolvent FTX exchange, Sam Bankman-Fried, wants to launch a new company.

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Some are drawing comparisons with Terra-failure Luna's since he claims he intends to raise enough money to repay the depositors.

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The disgraced former crypto billionaire once more refuted accusations of fraud and improper handling of user cash in a Saturday interview with the BBC. 

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 He reaffirmed his optimism in being able to pay back his depositors.

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In the event that users haven't received anything in return, Bankman-Fried remarked, "I'm going to be thinking about how we can improve the world and what I can do for them."

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Additionally, he stated that he planned to launch a new company to reimburse investors and depositors in FTX. "If I could do it, I would do anything. And I'll make the best effort I can "he stated.

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Previously, SBF was in favour of restarting FTX with a fresh FTT token. The former CEO of Terraform Labs, Do Kwon, made assertions that are very similar to those presented here.

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The organisation behind the unsuccessful stablecoin Terra is Terraform Labs (UST).

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Do Kwon made remarks on reviving the Terra-Luna ecology after it had collapsed. Terra-Luna would also receive a new token, according to Do Kwon's intentions.

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These plans were abandoned when the South Korean businessman had to leave the nation since he had an arrest order out for him.

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