"We looked at investment twice, and passed both times," Mnuchin said at the CNBC Technology Executive Council Summit in New York on Tuesday.
I did not expect it would unwind nearly as quickly, and if indeed customer funds were misused those are very serious issues," he said.
"We were a bit surprised by the overall level of valuation," Mnuchin said.
"You had people doing an investment a day in tech," Mnuchin said at the CNBC event.
Though he added that the allegations of misuse of customer funds in the FTX case do point to a foundational principal in financial regulation.