There are three possible explanations for what Sam Bankman-Fried is doing.
has said he has had a challenging time piecing everything together. Maybe SBF believes he could confuse some people who might eventually decide his fate. Bloomberg’s Matt Levinedefense, if not a great one: that, yes, his FTX-associated hedge fund lost a bunch of customers’ money, but it did so in the course of rational moves that the market blew up.
In this version, he has an insatiable desire to convince as many people as possible that he is a do-gooder with the best interests of his customers at mind. He’d neverfrom them. He would simply lend out their money to a hedge fund he also owned, and if that hedge fund lost that money, it was unfortunate, but certainly not the result ofYou could imagine SBF wanting very much to feel that way. Wouldn’t you? This may not change his legal fate, but not everything is chess.
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