is in a world of bother. He’s dealing with as much as 115 years in jail if he’s convicted of . And but the embattled founding father of collapsed crypto alternate — who has and is out on a $250 million bond whereas awaiting trial — figured it’d be a fantastic concept to put in writing about his perspective on the saga in a e-newsletter.
, which is ostensibly concerning the collapse of FTX International, Bankman-Fried (aka SBF) claims that “I didn’t steal funds, and I certainly didn’t stash billions away.” SBF notes that FTX US (which serves clients in America) “remains fully solvent and should be able to return all customers’ funds.” He added that FTX International nonetheless has billions of {dollars} in property and that he’s “dedicating nearly all of my personal assets to customers.” SBF, who as soon as had a internet value of roughly $26.5 billion, stated on the finish of November that , although he pledged to present nearly all of his private shares in Robinhood to clients.
The put up covers a lot of the identical floor that SBF has gone over within the myriad interviews he gave between FTX’s collapse in November and his arrest final month. He discusses the a number of crypto market crashes in 2022 and a tweet from Binance CEO Changpeng Zhao that sparked a run on FTX’s FTT token and prompted the implosion of his alternate. SBF additionally writes about how he was pressured to file for Chapter 11 chapter safety for FTX. Meanwhile, he notes that lots of the numbers he cites within the put up are approximations, since he has been locked out of FTX’s programs by these overseeing its .
What’s extra fascinating is what SBF does not deal with. He doesn’t point out the truth that FTX co-founder Zixiao “Gary” Wang and former Alameda Research CEO Caroline Ellison to fraud costs and are cooperating with prosecutors.
SBF has continued to present interviews and tweet concerning the scenario whereas he is out on bail. That’s regardless of the by the citing his tweets and feedback he made in an interview in early December. Perhaps this complete Substack factor will too.
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