Caribbean News
Ignorance or Corruption; only court can judge SBF
By Dana Malcolm
Staff Writer
#USA, December 26, 2022 – Sam Bankman-Fried has landed in the United States after agreeing to be extradited and faced US courts on Thursday. Since the beginning of the collapse of FTX the founder and former CEO had maintained his innocence.
In twitter posts in the immediate days after the collapse when thoughts of a hack were still floating around and the public was yet to learn of the extent of mismanagement he had said,
“I’m piecing together all of the details, but I was shocked to see things unravel the way they did earlier this week. I will, soon, write up a more complete post on the play by play, but I want to make sure that I get it right when I do.” he added “My goal—my one goal—is to do right by customers.— I’m meeting in-person with regulators and working with the teams to do what we can for customers. And after that, investors. But first, customers.”
He detailed his own version of what had happened on twitter. SBF presented the issue in its simplest form, as basically the company being overdrawn, with more money leaving its coffers than was supposed to. Seemingly contrite, he has consistently claimed innocence and ignorance about the massive mistakes that were made at his own company, but emphasized that he was doing everything to get his customers their money, making statements like this.
“I was on the cover of every magazine, and FTX was the darling of Silicon Valley. We got overconfident and careless— I had thought of myself as a model CEO, who wouldn’t become lazy or disconnected. Which made it that much more destructive when I did. I’m sorry. Hopefully people can learn from the difference between who I was and who I
could have been— Anyway — none of that matters now. What matters is doing the best I can. And doing everything I can for FTX’s customers.”
He maintained that even his extradition was for the benefit of his customers. Through his twitter posts Bankman-Fried is portraying himself as the picture of remorse. It’s at odds with the revelations of the Congressional hearing on December 13th which new CEO John Ray III attended. Ray shared incredible mismanagement and next to no protection of customer funds painting a picture of cross company trading and other gross negligence that should never have happened. Bankman-Fried did not mention the gaping holes in company policy or record keeping in his numerous twitter posts.
Al Green, Chairman of Subcommittee on Oversight and Investigations and Panelist in the congressional hearing on FTX’s collapse said this
“Mr. Bankman-Fried has pretty much indicated that he just made a big mistake and that he was doing the best that h could to be a servant of a great service to humankind.” referencing SBF’s impressive background in schooling he said “It looks to me like there may be some maleficence here– I find it hard to believe we are dealing with conscientious stupidity. It seems to me that you have to be really talented to do all of these things to the extent that they were done and to do them successfully for as long as he was able to accomplish these things. They just don’t emanate from ignorance and stupidity.– it just seems to me that we are dealing with more than sincere ignorance.”
He put the question to Ray who said they were still investigating and would have more information at a later date.
As for Bankman-Fried, whether his hands are clean or he is pulling off the con of the century will be up to the US Justice system to find out, at least two other executives have plead guilty to criminal charges.
Caribbean News
Sandals Resorts and Beaches Resorts celebrate a night of wins, and take home a total of 16 titles at the 32nd Annual World Travel Awards
Providenciales, Turks and Caicos Islands (October 6th, 2025) – CaribCon, the Caribbean conference celebrating culture, innovation, and creativity, will welcome some of the region’s most influential voices to its inaugural edition in the Turks and Caicos Islands. The event, set to be a dynamic gathering of thought leaders and cultural icons, will feature impactful panel discussions, inspiring and intimate fireside chats and a flow of knowledge from some of the Caribbean’s brightest and best in the creative sector.
Elizabeth “Lady” Montano
Jamaica’s own Dr. Terri-Karelle Johnson, celebrated communications specialist, media personality, and global keynote speaker, will headline CaribCon as the official keynote speaker. Known for her ability to connect authentically and inspire audiences worldwide, Dr. Reid will share her insights on Caribbean identity, storytelling, and the power of representation in shaping global narratives. Another highlight of CaribCon will be the presence of Elizabeth “Lady” Montano, mother and former manager of soca superstar Machel Montano. Lady will launch her award-winning book, King of Soca, in which she is positioned as the ultimate insider, chronicling the evolution of one of the Caribbean’s most iconic entertainers. She will also share her invaluable experiences on nurturing talent, building a brand, and sustaining longevity in the competitive music industry in an intimate fireside chat. Adding further star power to the event is Simon Baptiste, CEO of Question Mark Entertainment, co-founder of ODOS, a global collective network spanning over 1000 professionals in 35 countries, film director, talent manager and creative strategist. Baptiste will bring his expertise to conversations on shaping the region’s creative sector and talent.
Simon Baptiste
“CaribCon is where the Caribbean’s voices, ideas, and creativity converge,” says Omega Simmons, founder of CaribCon and CEO of SOS Media. “Having leaders like Terri Karelle, Lady Montano, and Simon Baptiste share their stories and expertise truly embodies the spirit of this event. Their presence reinforces the power of Caribbean culture to inspire and influence on the world stage.” CaribCon will take place at the Shore Club in Providenciales, the Turks and Caicos Islands, from October 23rd to 26th. Attendees can look forward to networking opportunities, panel discussions, and meaningful dialogue to foster an ecosystem that develops the region’s creative sector and propels it onto the global stage.
Sponsors are:
Signature Experience Partners: Ministry of Tourism, Experience Turks and Caicos, and The Shore Club.
Other sponsors: PPID, Invest TCI, InterCaribbean Airways, Subtronic Sounds, Spotlight Communications.
Hotel partners: Ocean Club Resorts, Waterloo Hotel Management, The Somerset on Grace Bay and Ports of Call Resort.
For more information, tickets, and updates, visit www.caribcon.co or follow @caribconhq on all social media platforms.
For more information please email: contact@caribcon.co
-
TCI News5 days agoTurks and Caicos Islands Reaffirms Status as Premier Beach and Romance Destination at World Travel Awards
-
Bahamas News3 days agoNassau Cruise Port Marks Sixth Anniversary with Exciting New Additions for Visitors and The community
-
Caribbean News3 days agoSandals Resorts and Beaches Resorts celebrate a night of wins, and take home a total of 16 titles at the 32nd Annual World Travel Awards
-
TCI News1 day agoVisitTCI and Potcake Place Highlight Growing Homeless Dog Crisis
-
Caribbean News5 days agoCaribbean Powerhouses to Inspire at CaribCon in the Turks and Caicos Islands