Disgraced 31-year-old former FTX CEO Sam Bankman-Fried feels “broke” and “hated” and says there’s nothing he can do to vary the general public’s damaging notion of him, based on 250 pages of writings penned since his home arrest in December.
The manuscript was leaked to crypto journalist/YouTuber Tiffany Fong, who subsequently shared it with the New York Occasions, which then published a few of the materials this week.
Bankman-Fried is in custody awaiting trial subsequent month, having been charged with a plethora of alleged crimes together with wire fraud, cash laundering, misusing buyer funds, and marketing campaign finance regulation violations.
A number of the writings come within the type of a deliberate (however unposted) sequence of tweets of justifications over his function within the multibillion greenback collapse of FTX and 130 affiliated entities, the largest chapter within the business’s historical past thus far.
“I’m broke and sporting an ankle monitor and one of the crucial hated individuals on the earth,” he drafted. “There’ll in all probability by no means be something I can do to make my lifetime influence internet constructive.”
Bankman-Fried additionally deflects blame for the collapse onto a few his colleagues, most notably his ex-girlfriend and former CEO of Alameda Analysis, Caroline Ellison. Bankman-Fried is accused of getting despatched buyer funds to Alameda Analysis to shore up its steadiness sheet after the buying and selling agency took heavy losses on a number of dangerous trades.
“I’m broke and sporting an ankle monitor and one of the crucial hated individuals on the earth.”
—Sam Bankman-Fried
In one other doc leaked to Fong, Bankman-Fried writes of Ellison: “She regularly averted speaking about danger administration — dodging my strategies — till it was too late. […] Each time that I reached out with strategies, it simply made her really feel worse. I’m certain that being exes didn’t assist.”
Elsewhere within the leak, Bankman-Fried pleads ignorance that Alameda was appropriating buyer funds utilizing an account referred to as “fiat@” till he overheard a bunch of his staff (together with Ellison) speaking about it in Spring 2022.
The previous CEO maintains that he by no means misused buyer cash.
This Week in FTX…
A number of months after the sudden and dramatic collapse of FTX, Bankman-Fried’s ongoing battle with the authorities arguably stays one of many greatest tales within the business proper now, alongside Ripple’s three-year battle towards the SEC.
On Tuesday, Choose Lewis A. Kaplan dismissed Bankman-Fried’s request for pretrial launch in an effort to put together for his coming trial. Kaplan rebutted the plea, saying that the time given to Bankman-Fried has been enough.
On Wednesday, Choose John Dorsey, who’s overseeing its chapter proceedings, accepted FTX’s proposal to promote $3.4 billion in Solana, Ethereum, Bitcoin and different cryptocurrencies.
Mike Novogratz’s Galaxy Digital is the appointed funding supervisor overseeing the sale which, based on the plan, is at the moment capped at $100 million of tokens per week, however may very well be elevated to $200 million on a person token foundation.
On Thursday, Bloomberg printed a feature detailing how Bankman-Fried’s mother and father supported his ascent. His father had been current in conferences the place FTX token advertising points and tax issues had been mentioned.
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