1 year ago
The erstwhile FTX person denied immoderate engagement In regards to the allegations Alameda had utilized FTX lawsuit funds, and said helium was pressured into naming John Ray arsenic CEO.
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Former FTX CEO Sam Bankman-Fried has mostly denied the allegations against him successful a ‘pre-mortem overview’ of the crypto exchange’s insolvency.
In a Jan. 12 station connected Substack, Bankman-Fried — differentiating betwixt companies nether the FTX umbrella — claimed FTX US had been “fully solvent” astatine the clip the steadfast filed for Chapter 11 bankruptcy, with astir $350 cardinal successful currency connected hand. He pointed to Sullivan & Crowell and the FTX US wide counsel arsenic parties who pressured him into naming John Ray arsenic the CEO of FTX anterior to the firm’s bankruptcy, seemingly disrupting a way toward making affected users “substantially whole.”
“Even now, I judge that if FTX International were to reboot, determination would beryllium a existent anticipation of customers being made substantially whole,” said Bankman-Fried.
In regards to the allegations Alameda had utilized idiosyncratic funds from FTX, Bankman-Fried denied immoderate involvement:
“I didn’t bargain funds, and I surely didn’t stash billions away. Nearly each of my assets were and inactive are utilizable to backstop FTX customers. I have, for instance, offered to lend astir each of my idiosyncratic shares successful Robinhood to customers–or 100%, if the Chapter 11 squad would grant my D&O ineligible disbursal indemnification.”— SBF (@SBF_FTX) January 12, 2023This communicative is processing and volition beryllium updated.
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