1 year ago
In the letter, SBF denied stealing funds and stashing billions of dollars away.
Own this portion of past
Collect this nonfiction arsenic an NFT
The crypto assemblage has voiced their opinions connected Sam Bankman-Fried’s latest “pre-mortem overview” of the illness of FTX, published connected Jan. 12 arsenic a missive connected substack.
— SBF (@SBF_FTX) January 12, 2023As antecedently reported by Cointelegraph, the erstwhile FTX CEO Sam Bankman-Fried denied allegations made against him successful his lengthy letter, dubbed arsenic a "pre-mortem overview",. In the letter, SBF maintained that FTX US had been "fully solvent" astatine the clip the steadfast filed for Chapter 11 bankruptcy, with astir $350 cardinal successful currency available.
Bankman-Fried further stated that FTX International had a important magnitude of assets, astir $8 billion, erstwhile John Ray became the CEO. According to Bankman-Fried, “No funds were stolen. Alameda mislaid wealth owed to a marketplace clang it was not adequately hedged for–as Three Arrows and others person this year.”
Unfortunately for SBF, the crypto assemblage seemed unimpressed by his “pre-mortem overview” of the illness of FTX.
The Wall Street Silver shared “There is nary notation of the billions successful “loans” helium took retired from lawsuit wealth to money his lavish manner and governmental donations. I americium shocked his ineligible squad has not stopped this feline from talking.”
SBF released a Substack nonfiction with his mentation of events.
There is nary notation of the the billions successful “loans” helium took retired from lawsuit wealth to money his lavish manner and governmental donations.
I americium shocked his ineligible squad has not stopped this feline from talking. pic.twitter.com/8hTFgRhXva
Fintech expert Peruvian Bull shared “SBF is sitting successful his parent's mansion penning substack articles blaming everyone but himself for the FTX fraud. He was a genius erstwhile talking to VCs, present abruptly we're expected to judge he's the astir incompetent CEO successful history.”
SBF is sitting successful his parent's mansion penning substack articles blaming everyone but himself for the FTX fraud.
He was a genius erstwhile talking to VCs, present abruptly we're expected to judge he's the astir incompetent CEO successful history.https://t.co/BHwf7opIA2
Appellate lawyer Michael Tex Duncan commented: “So it looks similar SBF is nary longer tweeting his crimes, but alternatively has a caller substack to item them.”
So it looks similar SBF is nary longer tweeting his crimes, but alternatively has a caller substack to item them.
Sure helium tin confess to things much than 280 characters astatine a time, but if they're similar me, I'd wager the FBI agents connected the lawsuit are inactive annoyed astir having to motion up for it.
Bitcoin researcher Andrew M. Bailey commented: “SBF has a caller Substack station filled with reconstructed numbers and tables and estimates astir Alameda's last months. I work them. They're a smokescreen. Obviously.”
SBF has a caller Substack station filled with reconstructed numbers and tables and estimates astir Alameda's last months. I work them.
They're a smokescreen. Obviously.
Related: Sam Bankman-Fried: ‘I didn’t bargain funds, and I surely didn’t stash billions away’
On Jan 12, Cointelegraph reported that Joseph Bankman, the begetter of Sam Bankman-Fried, has reportedly hired an lawyer arsenic the transgression lawsuit against his lad moves forward. Joseph Bankman reportedly advised and assisted his lad connected matters related to lobbying lawmakers successful Washington D.C. and whitethorn present beryllium cooperating with prosecutors down SBF’s case.
However, It remains unclear whether Joseph Bankman has immoderate transgression oregon civilian liability related to the illness of FTX.
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