Sam Bankman-Fried, a disgraced founder of FTX, started a newsletter
Although it might not be the most thrilling headline, Sam Bankman-Fried is indeed in a strange place. starting a Substack. He’s facing up to 115 years in prison if he’s convicted of federal fraud and conspiracy charges. And yet the embattled founder of collapsed crypto exchange FTX – who pleaded not guilty and is out on a $250 million bond while awaiting trial – figured it’d be a great idea to write about his perspective on the saga in a Substack newsletter.
In his first post, about the collapse of FTX International, Bankman-Fried (aka SBF) claims “I didn’t steal funds, and I certainly didn’t stash billions away.” SBF notes that FTX US (which serves customers in America) “remains fully solvent and should be able to return all customers’ funds.” However, he does not mention that FTX co-founder Zixiao “Gary” Wang and former Alameda Research CEO Caroline Ellison pleaded guilty to fraud charges and are cooperating with prosecutors.
– Mat Smith
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