meta_pixel
Tapesearch Logo
Log in
Squawk Pod

FTX Founder Sam Bankman-Fried: “I’ve had a bad month” 12/01/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2543 Ratings

🗓️ 1 December 2022

⏱️ 37 minutes

🧾️ Download transcript

Summary

In his first public appearance since the collapse of the crypto exchange he founded, disgraced former FTX head Sam Bankman-Fried spoke to Andrew Ross Sorkin at The New York Times DealBook Summit. Andrew recaps the highlights of his extended conversation with the former “crypto king” with Joe Kernen and Becky Quick, and considers whether his remorse for the damage he’s caused is genuine. In a remarkably candid conversation, Bankman-Fried admits to messing up, and attempts to clear the air on what went wrong at his crypto exchange. More than 100,000 railroad workers seeking guaranteed paid sick leave are on the brink of a strike, and the unions, freight carriers, and US government are working on an agreement to avert a crisis. U.S. Secretary of Transportation Pete Buttigieg explains why a railroad shutdown could spell a logistical disaster for the country, ahead of the Senate’s vote on a rail labor deal. Plus, Fed Chair Jay Powell has signaled that a slowdown to rate hikes might start soon! CNBC’s Steve Liesman parses through the Fed speak and what it means for inflation nationwide. In this episode: Sam Bankman-Fried, @SBF_FTX Pete Buttigieg: @SecretaryPete Steve Liesman @Steveliesman Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

Click on a timestamp to play from that location

0:00.0

Bring in show music please.

0:02.6

Hi there, I'm C. N.C. producer Cameron Costa.

0:07.4

Today on Squack-Pod, the interview heard on Wall Street, Main Street, and pretty much every virtual street there is.

0:16.0

Sam Bankman Freed, disgraced but speaking out at the New York Times Dealbook Summit.

0:22.8

I mean, look, I've had a bad month.

0:25.4

This has not been a funny thing, but that's not what matters here.

0:29.7

What matters here is the millions of customers. What matters here is all the

0:34.9

stakeholders in FTX who got hurt.

0:37.1

Highlights from his candid sit down with our own Andrew Ross

0:41.6

Sorkin plus a debrief with Becky Quick and Joe Kernan.

0:45.8

So I think he's sorry?

0:46.5

I do think he's sorry.

0:47.3

That part I absolutely...

0:48.3

I think he's sorry he got caught.

0:49.2

There's two ways you can come at this.

0:50.6

Either you're an idiot or a criminal for what happened with the

0:53.6

eight billion dollars missing clearly went with the I'm an idiot.

0:56.5

And on the brink of a railroad strike, Transportation Secretary Pete

1:01.7

Buttiges on averting a logistical disaster.

1:05.0

There are not enough trucks, not enough barges, not enough ships in this country to make up for the consequences

1:11.0

if we didn't have freight rail.

1:14.0

So it's Cryptos Crunch, a red-hot railway crisis,

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.