Bankman-Fried Praises Regulators Hours After Saying 'F*** Regulators'

Icarus keeps live-tweeting his fall from the Firmament.

AccessTimeIconNov 16, 2022 at 11:29 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Former FTX CEO Sam Bankman-Fried threw his meandering “What H-A-P-P-E-N-E-D” Twitter thread into damage control Wednesday after a Vox reporter published Twitter direct messages of him cursing about regulators – a group he famously and publicly courted for their influence.

“It’s *really hard to be a regulator,” he said Wednesday of three- and four-letter agencies with the “impossible” job of overseeing fast-moving industries such as crypto. “And so often they end up mostly unable to police as well as they ideally would.”

His diplomatic wording offered a blunt contrast with Bankman-Fried’s private verdict to Vox reporter Kelsey Piper Tuesday night: “Fuck regulators.” Also: “They make everything worse.” And: “They don’t protect customers at all.”

As Piper’s article quickly went viral on Crypto Twitter Wednesday, Bankman-Fried, who is reportedly under federal investigation after mishandling billions of dollars in customer deposits, said he didn’t know his messages with a reporter would be made public. He called some of his takes “thoughtless.”

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.