--- title: "Meaning & Key Takeaway of: We have financial audits, both for FTX…" description: "\"We have financial audits, both for FTX U.S. and FTX International. Each year. We have regulatory oversight, again, from a number of the largest jurisdi..." image: "https://sms4smile.com/quotes/i/b26/sam-bankman-fried-6385_again_we-have-financial-audits-both-for-ftx-u_2201683.jpg" --- # We have financial audits, both for FTX U.S. and FTX… ![“We have financial audits, both for FTX U.S. and FTX International. Each year. We have regulatory oversight, again, from a number of the largest jurisdictions in the world.” quote by Sam Bankman-Fried](https://sms4smile.com/quotes/i/b26/sam-bankman-fried-6385_again_we-have-financial-audits-both-for-ftx-u_2201683.jpg) [Download](https://sms4smile.com/quotes/i/b26/sam-bankman-fried-6385_again_we-have-financial-audits-both-for-ftx-u_2201683.jpg) [Open image](https://sms4smile.com/quotes/i/b26/sam-bankman-fried-6385_again_we-have-financial-audits-both-for-ftx-u_2201683.jpg) > “We have financial audits, both for FTX U.S. and FTX International. Each year. We have regulatory oversight, again, from a number of the largest jurisdictions in the world.” [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The speaker emphasizes regular audits and global regulatory scrutiny of both U.S. and international operations. **In simple terms:** Audits and oversight are routine and worldwide. Key Takeaway Maintain transparency and compliance. Themes accountability regulation finance Mood formal serious Type business informative When to use this quote - annual reporting - financial planning - investor relations - cross‑border compliance Key Concepts corporate governance risk management Questions to Reflect On - How do audits impact stakeholder trust? - What additional controls could improve governance? A Different Perspective Audits alone cannot guarantee ethical behavior without strong internal culture. ★ ★ ★ ★ ★ No ratings yet [Again](https://sms4smile.com/quotes/about/again/) [Audits](https://sms4smile.com/quotes/about/audits-902516/) [Audits Ftx](https://sms4smile.com/quotes/about/audits-ftx-4838953/) [Both](https://sms4smile.com/quotes/about/both/) [Financial Audits](https://sms4smile.com/quotes/about/financial-audits-4838955/) [Ftx International](https://sms4smile.com/quotes/about/ftx-international-4838954/) [Money](https://sms4smile.com/quotes/about/money/) [Regulatory](https://sms4smile.com/quotes/about/regulatory/) [Regulatory Oversight](https://sms4smile.com/quotes/about/regulatory-oversight-1825457/) [World](https://sms4smile.com/quotes/about/world/) [Year](https://sms4smile.com/quotes/about/year/) ## Related quotes > [The strongest version of the crypto industry is one that does have regulatory oversight.](https://sms4smile.com/quotes/sam-bankman-fried/the-strongest-version-of-the-crypto-industry-is-one-that-does-have/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I'm increasingly inclined to think there should be some regulatory oversight, maybe at the national and international level just to make sure that we…](https://sms4smile.com/quotes/elon-musk/i-m-increasingly-inclined-to-think-there-should-be-some-regulatory/) [Elon Musk](https://sms4smile.com/quotes/author/elon-musk/) > [“No one is a judge in his own case. Therefore ask: who audits the auditors themselves?”](https://sms4smile.com/quotes/anonymous/no-one-is-a-judge-in-his-own-case-therefore-ask-who-audits-the/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Nixon started auditing late-night show hosts because they were making jokes about him. Then, every single one of their staff got tax audits.](https://sms4smile.com/quotes/jim-jefferies/nixon-started-auditing-late-night-show-hosts-because-they-were-making/) [Jim Jefferies](https://sms4smile.com/quotes/author/jim-jefferies/) > [“listen, i appreciate the story. i get that he's a goody guy. but these audits are random. it's not personal. see, that's where you're…](https://sms4smile.com/quotes/heather-cochran/listen-i-appreciate-the-story-i-get-that-he-s-a-goody-guy-but-these/) [Heather Cochran](https://sms4smile.com/quotes/author/heather-cochran/) > [Governments cannot do innovation. There are too many audits, and no one stays in a role for long enough.](https://sms4smile.com/quotes/ajay-piramal/governments-cannot-do-innovation-there-are-too-many-audits-and-no-one/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [Regulatory mandates have a disproportionate effect on small businesses.](https://sms4smile.com/quotes/ajit-pai/regulatory-mandates-have-a-disproportionate-effect-on-small-businesses/) [Ajit Pai](https://sms4smile.com/quotes/author/ajit-pai/) > [In order to build anything from factories to schools to hospitals, one must jump through a series of regulatory hoops, giving EPA veto power…](https://sms4smile.com/quotes/jim-inhofe/in-order-to-build-anything-from-factories-to-schools-to-hospitals-one/) [Jim Inhofe](https://sms4smile.com/quotes/author/jim-inhofe/) > [As newly created P2P businesses disrupt the status quo and compete with established companies, they face the difficulty of fitting a square peg into…](https://sms4smile.com/quotes/sam-graves/as-newly-created-p2p-businesses-disrupt-the-status-quo-and-compete/) [Sam Graves](https://sms4smile.com/quotes/author/sam-graves/) > [There's been so much corruption and so much cronyism in the taxi industry and so much regulatory capture, that if you ask for permission…](https://sms4smile.com/quotes/travis-kalanick/there-s-been-so-much-corruption-and-so-much-cronyism-in-the-taxi/) [Travis Kalanick](https://sms4smile.com/quotes/author/travis-kalanick/) > [The future regulatory arrangements for the newspaper industry need to be done in a much calmer deliberative way, in slower time when we've got…](https://sms4smile.com/quotes/thomas-watson-jr/the-future-regulatory-arrangements-for-the-newspaper-industry-need-to/) [Thomas Watson, Jr](https://sms4smile.com/quotes/author/thomas-watson-jr/) > [Calling bitcoin volatile - it's a non-statement. Unregulated assets with unclear regulatory landscapes are always going to be volatile. That's what unregulated assets do.](https://sms4smile.com/quotes/tyler-winklevoss/calling-bitcoin-volatile-it-s-a-non-statement-unregulated-assets-with/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [A state-based regulatory system is quite burdensome. It allows price controls to create market distortions. It can hinder development of national products and can…](https://sms4smile.com/quotes/henry-paulson/a-state-based-regulatory-system-is-quite-burdensome-it-allows-price/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [Electricity transmission operates on a frequency between 49.7 Hertz and 50.2 Hertz. What I have done is petitioned the Central Electricity Regulatory Commission and…](https://sms4smile.com/quotes/jyotiraditya-madhavrao-scindia/electricity-transmission-operates-on-a-frequency-between-49-7-hertz/) [Jyotiraditya Madhavrao Scindia](https://sms4smile.com/quotes/author/jyotiraditya-madhavrao-scindia/) > [I believe that government is too large, costs too much, spends too much, and has too much regulatory power in our lives.](https://sms4smile.com/quotes/tim-walberg/i-believe-that-government-is-too-large-costs-too-much-spends-too-much/) [Tim Walberg](https://sms4smile.com/quotes/author/tim-walberg/) ## More by Sam Bankman-Fried > [The bitcoin network is not a payments network and it is not a scaling network.](https://sms4smile.com/quotes/sam-bankman-fried/the-bitcoin-network-is-not-a-payments-network-and-it-is-not-a-scaling/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [If you do something to see if it works, and then it doesn't work, was that a valuable educational experience for you - that…](https://sms4smile.com/quotes/sam-bankman-fried/if-you-do-something-to-see-if-it-works-and-then-it-doesn-t-work-was/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [We've put a lot of attention and care into regulation and interfacing with regulators.](https://sms4smile.com/quotes/sam-bankman-fried/we-ve-put-a-lot-of-attention-and-care-into-regulation-and-interfacing/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [FTX has shareholders and we have a duty to do reasonable things by them and I certainly feel more comfortable incinerating my own money.](https://sms4smile.com/quotes/sam-bankman-fried/ftx-has-shareholders-and-we-have-a-duty-to-do-reasonable-things-by/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [Just like an idle software, your brain is less efficient after a long break.](https://sms4smile.com/quotes/sam-bankman-fried/just-like-an-idle-software-your-brain-is-less-efficient-after-a-long/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I have given to some Republicans, I've given to some Democrats.](https://sms4smile.com/quotes/sam-bankman-fried/i-have-given-to-some-republicans-i-ve-given-to-some-democrats/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [There are a lot of ways to do good in the world.](https://sms4smile.com/quotes/sam-bankman-fried/there-are-a-lot-of-ways-to-do-good-in-the-world/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [The SEC is very likely going to end up regulating spot security token markets.](https://sms4smile.com/quotes/sam-bankman-fried/the-sec-is-very-likely-going-to-end-up-regulating-spot-security-token/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [Lack of trust is an enormous transaction cost, and I underestimated this when I first got into business.](https://sms4smile.com/quotes/sam-bankman-fried/lack-of-trust-is-an-enormous-transaction-cost-and-i-underestimated/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I wanted to get rich, not because I like money but because I wanted to give that money to charity.](https://sms4smile.com/quotes/sam-bankman-fried/i-wanted-to-get-rich-not-because-i-like-money-but-because-i-wanted-to/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [It is easy to get lulled into thinking that everything you do is all you can do - but you're not thinking more globally…](https://sms4smile.com/quotes/sam-bankman-fried/it-is-easy-to-get-lulled-into-thinking-that-everything-you-do-is-all/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [We are the most regulated crypto exchange by far. We are regulated by some definition by more regulators than any exchange of any type.](https://sms4smile.com/quotes/sam-bankman-fried/we-are-the-most-regulated-crypto-exchange-by-far-we-are-regulated-by/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I am legitimately worried about doing things that will make people view me as partisan when it's not how I feel.](https://sms4smile.com/quotes/sam-bankman-fried/i-am-legitimately-worried-about-doing-things-that-will-make-people/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [We're really excited to support candidates who are making a point of putting pandemic prevention as one of their core policy positions and promising…](https://sms4smile.com/quotes/sam-bankman-fried/we-re-really-excited-to-support-candidates-who-are-making-a-point-of/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [When we think about what FTX represents, we want to be the best product that is out there.](https://sms4smile.com/quotes/sam-bankman-fried/when-we-think-about-what-ftx-represents-we-want-to-be-the-best/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) [Explore all 99 Sam Bankman-Fried quotes ](https://sms4smile.com/quotes/author/sam-bankman-fried/) ## More Again quotes > [The one thing that I keep learning over and over again is that I don't know nothing. 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You'll be sitting there not wishing to get…](https://sms4smile.com/quotes/roger-daltrey/i-don-t-think-you-should-ever-say-this-is-the-last-time-music-isn-t/) [Roger Daltrey](https://sms4smile.com/quotes/author/roger-daltrey/) > [I don't know about writing. It's quite lonely. You have to have a lot of patience with yourself. I don't know if I could…](https://sms4smile.com/quotes/ruth-wilson/i-don-t-know-about-writing-it-s-quite-lonely-you-have-to-have-a-lot/) [Ruth Wilson](https://sms4smile.com/quotes/author/ruth-wilson/) > [Inspiration comes from so many sources. Music, other fiction, the non-fiction I read, TV shows, films, news reports, people I know, stories I hear,…](https://sms4smile.com/quotes/trudi-canavan/inspiration-comes-from-so-many-sources-music-other-fiction-the-non/) [Trudi Canavan](https://sms4smile.com/quotes/author/trudi-canavan/) > [You couldn't get me to go travel around and sit in a hotel room again. I have no interest in doing that. So everybody's…](https://sms4smile.com/quotes/phil-everly/you-couldn-t-get-me-to-go-travel-around-and-sit-in-a-hotel-room-again/) [Phil Everly](https://sms4smile.com/quotes/author/phil-everly/) > [In theater, one of the biggest problems when you're rehearsing comedy over and over again is that you stop laughing at each other.](https://sms4smile.com/quotes/lauren-ashley-carter/in-theater-one-of-the-biggest-problems-when-you-re-rehearsing-comedy/) [Lauren Ashley Carter](https://sms4smile.com/quotes/author/lauren-ashley-carter/) > [I'd like to do some female roles again.](https://sms4smile.com/quotes/john-cameron-mitchell/i-d-like-to-do-some-female-roles-again/) [John Cameron Mitchell](https://sms4smile.com/quotes/author/john-cameron-mitchell/) > [Death is a sniper. It strikes people you love, people you like, people you know - it's everywhere. You could be next. But then…](https://sms4smile.com/quotes/nora-ephron/death-is-a-sniper-it-strikes-people-you-love-people-you-like-people/) [Nora Ephron](https://sms4smile.com/quotes/author/nora-ephron/) > [Well, a lot of our concerts do okay, and I know we still get royalty checks which still isn't that important, but again, I…](https://sms4smile.com/quotes/bruce-johnston/well-a-lot-of-our-concerts-do-okay-and-i-know-we-still-get-royalty/) [Bruce Johnston](https://sms4smile.com/quotes/author/bruce-johnston/) > [Oh wow, you know what's wrong with all these families on TV? All these kids say stuff no kid would say. 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