Convicted FTX Founder Sam Bankman-Fried Breaks Silence On ‘10 Myths’
Sam Bankman-Fried, the convicted founder of FTX, has issued a statement from prison refuting what he calls “10 myths” about the collapse of the crypto exchange. He denies that FTX was insolvent, claiming it is now repaying customers between 119% and 143% of their claims. Bankman-Fried also dismissed rumors of a lavish corporate culture, including “polycule orgies,” and insisted his personal spending was funded by legitimate earnings.
He challenged the narrative around FTX’s bankruptcy, stating that financing was available to cover liquidity shortfalls, but lawyers proceeded with the filing anyway. He denied creating a secret “backdoor” for Alameda Research, asserting that all account features had legitimate purposes.
Regarding his trial, Bankman-Fried argued he did not receive a fair hearing, accusing the DOJ and bankruptcy debtors of controlling the narrative and witnesses. He also claimed Judge Kaplan restricted his defense by imposing a gag order and revoking his bail for exercising his First Amendment rights. The statement comes as he pursues a new trial, with hopes for a presidential pardon having largely faded.
bitcoinist02/21 11:02
