Sam Bankman-Fried Admits FTX Didn’t Buy Bitcoin for Clients – Just Took Their Money

An interviewer asked SBF,why there was no more Bitcoin for customers to withdraw, and suggested it was because the Bitcoin did not actually exist as SBF was just letting customers buy notional or imaginary tokens rather than Bitcoin. SBF responded by saying, "I believe that what you're saying is part of what happened."
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