Will Former FTX CEO Sam Bankman-Fried Still Be Speaking With Janet Yellen at This Event?

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Embattled former FTX CEO Sam Bankman-Fried (SBF) is still listed as a keynote speaker at the New York Times’ 2022 DealBook Summit that is set to take place on Nov. 30, 2022, despite having no role in the company.

This comes after a New York Times published a piece that some crypto community members believed downplayed the seriousness of the exchange’s collapse, prompting speculation that SBF had connections within the Times.

Sam Bankman-Fried to join political heavyweights

The event, hosted at the Lincoln Center in New York City, will also welcome New York City Mayor Eric Adams, BlackRock CEO Larry Fink, former Prime Israeli Prime Minister Benjamin Netanyahu, U.S. Treasury Secretary Janet Yellen, and Meta CEO Mark Zuckerberg.

Source: New York Times

CNBC Squawk Box anchor and Times writer Andrew Ross Sorkin will interview all the speakers on a single stage.

The DealBook Summit has historically looked to blend business, culture, and political themes. It has hosted past speakers like Apple CEO Tim Cook, former U.S. Vice President Al Gore, anti-crypto senator Elizabeth Warren, and bitcoin-bashing JPMorgan Chase CEO Jamie Dimon.

New York Times accused of bias, helping SBF

The crypto community, including famed influencer BitBoy, has decried the inclusion of SBF in the event. They have accused the former CEO and the Times of trying to repair his public image.

EXACTLY. I have told you all for two days, Sam himself has been trying to resurrect his images. The puff piece IS Sam.

He has used the NYT before to attack projects so we know he has the connections there. https://t.co/8GRziEgN7h

— Ben Armstrong (@Bitboy_Crypto) November 17, 2022

Another piece by the New York Times describing the interview of a psychiatrist who served as an in-house professional coach to FTX employees has been accused of damage control by downplaying troubling aspects of SBF and FTX’s corporate culture. 

In the article, the psychiatrist denies rumors that FTX employees used a prescription medication to enhance job performance and that employees took part in non-monogamous relationships. 

This is despite the fact another NYT writer David Yaffe-Bellamy commented on the company’s crypto-themed condoms upon visiting the company’s headquarters in May 2022.

Went to the Bahamas to follow Sam Bankman-Fried, one of the most powerful people in crypto. He’s trying to write the rules for the industry as its risks grow increasingly stark.

Come for that important stuff, and stay for the crypto-themed condoms.https://t.co/ZeAbBIMFGl

— David Yaffe-Bellany (@yaffebellany) May 15, 2022

Sam Bankman-Fried implicated in corporate governance shamble

In an official FTX Twitter thread on Nov. 17, 2022, FTX’s new CEO, John Ray, revealed that SBF had resigned from FTX, Alameda Research, and all its subsidiaries. Hence, he plays no role in the future of these companies.

(2/3) As previously announced, Mr. Bankman-Fried resigned on November 11 from @FTX_Official, FTX US, Alameda Research Ltd. and their directly and indirectly owned subsidiaries.

— FTX (@FTX_Official) November 16, 2022

(3/3) Mr. Bankman-Fried has no ongoing role at @FTX_Official, FTX US, or Alameda Research Ltd. and does not speak on their behalf.

— FTX (@FTX_Official) November 16, 2022

Furthermore, Ray said he had never seen a worse failure of corporate governance.

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” said Ray on Nov. 17, 2022. 

Additionally, FTX’s bankruptcy lawyers have accused the former CEO of trying to interrupt the transfer of a competing bankruptcy case from New York to Delaware.

In a court filing, the lawyers suggested SBF supported Bahamian authorities, who filed a case in New York over the insolvency of FTX Digital Markets in the Bahamas earlier this week.

The authorities believe that assets held in FTX custodial wallets are owed to FTX Digital Markets. They want to bring the assets under Bahamian control. FTX lawyers say this move could hamper the progress of the company’s Chapter 11 proceedings. It also prevents the consolidation of insolvency issues in a single court.

They allege that SBF’s recent tweets, where he suggested he could turn back the clock on his decision to file for bankruptcy if “we can win a jurisdictional battle vs. Delaware,” are sabotaging the bankruptcy process. 

Vox Media first unveiled the tweets.

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.

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