Bill Ackman and Kevin O’Leary defend Sam Bankman-Fried, saying they believe he didn’t know about Alameda’s bad bets

“Shark Tank” investor Kevin O’Leary.
Bill Ackman and Kevin O’Leary believe Sam Bankman-Fried’s claims he hasn’t tried to commit fraud.
The founder of FTX faces questions about potential misuse of client funds by sister firm Alameda.
“Call me crazy, but I think @sbf is telling the truth,” Ackman said in a Wednesday tweet.  

Sam Bankman-Fried has won over influential investors Bill Ackman and Kevin O’Leary, who say they believe the FTX founder when he says he was unaware of sister company Alameda Research’s dodgy bets. 

They tweeted their support for Bankman-Fried after the former cryptocurrency exchange boss defended himself against accusations of wrongdoing in a highly anticipated interview at the New York Times Dealbook Summit on Wednesday.

“Clearly I made a lot of mistakes. There are things I would give anything to be able to do over again. I did not ever try to commit fraud on anyone,” he told Andrew Ross Sorkin. 

Bankman-Fried maintained that the bombshell collapse of FTX was…

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This article was written by [email protected] (Zahra Tayeb) and originally published on markets.businessinsider.com