Sam Bankman-Fried Admits His “Biggest Mistake” in FTX Collapse

Story Highlights* Sam Bankman-Fried calls handing FTX to new CEO John J. Ray III was his biggest mistake ever.

• FTX misused customer funds for Alameda’s trading, creating the notorious “Alameda gap” losses.
• Nearly three years later, creditors await repayment as FTX recovers $16.5 billion assets.