In response to a question about whether his charitable beliefs were fabricated, Bankman-Fried, commonly known as “SBF,” said: “[There] are a lot of things that I think have really a massive impact on the world…Separately from that, there is a bunch of bullshit that regulated companies do to try and look good.”
He went on to specify FTX’s practice of deploying “a PR campaign sort of masquerading as a do-gooderism,” comparing it with other insincere efforts like greenwashing, which is when a brand makes an unsubstantiated claim that its products are environmentally friendly.
“These are not looking at saving thousands of lives. You know, these are the kind of like, you know, if like three different quarterbacks throw a touchdown in the same game for the same team, we will donate two used cars to charity-type campaigns. Where it’s not going to happen. It’s never happened. There’s no expectation of a car getting donated,” he said.
Bankman-Fried did not cite any specific initiatives as examples, but his company had a history of branding efforts. Earlier this year, supermodel and the former wife of Tom Brady, Gisele Bundchen, was appointed as FTX’s head of environmental and social initiatives.
The move, which was promoted with a print campaign, was announced after her role as a celebrity brand ambassador alongside her then-husband. The couple starred in a TV spot in 2021 all about pressuring friends to invest in crypto.