FTX founder Sam Bankman-Fried denies fraud
In a blog post, Sam Bankman-Fried denies the fraud allegations and blames the collapse of FTX on Binance CEO "CZ".
In a blog post, Sam Bankman-Fried speaks out against the fraud allegations and blames the collapse of FTX on Binance CEO "CZ".
Sam Bankman-Fried, the fallen founder of the bankrupt crypto exchange FTX, speaks out for the first time since the indictment. In a blogpost he defends himself against the ongoing fraud allegations. He "hasn't stolen any money", writes "SBF". He also reiterates several claims about FTX's demise and his crypto hedge fund Alameda Research. The latter would have run into trouble due to the "tight macroeconomic situation".
According to the report, the Binance founder is at fault
According to the report, it wasn't Bankman-Fried, but Binance founder Changpeng "CZ" Zhao who was to blame for FTX's collapse. He had kicked off the downfall with an "extremely effective PR campaign that lasted for months". CZ announced the liquidation of FTX tokens on View post on X, a few days before the FTX crash. The Binance boss rejected the charges of a targeted attack. Moreover, SBF continues to stress the payment obligations of the U.S. arm FTX.US.
New FTX CEO responds to the statements
The statements from the former "favorite from Washington" are countered by the new FTX CEO, John J. Ray III, former staff such as Caroline Ellison or Gary Wang, and representatives of various U.S. authorities. The U.S. Attorney's Office accuses Bankman-Fried of a total of eight counts. In addition to fraud, the charges include violations of campaign finance law. If convicted, he could face up to 115 years in prison. read more in court.
