Once again, disgraced FTX founder Sam Bankman Fried weighed in on the exchange’s bankruptcy discussion after responding to a sarcastic post by one of the company’s creditors who accused court-appointed CEO John J. Ray III of intentionally holding the platform “completely solvent” in bankruptcy in order to generate record fees and destroy real estate values.
The creditor alleged that billions in valuable stocks and venture interests were sold at deep discounts, that assets were mishandled, recoveries were mismanaged, and subsidiaries were forced into bankruptcy without the authority of the board of directors. SBF X account replied,
“I don’t completely agree with every point – but, yeah, that’s basically what happened. I’m not saying FTX’s solvency or the debtors’ mismanagement are the reasons I’m innocent (although that’s part of the story!). But the debtors still hold the money.”
No remorse and no accountability
His comments are spot on antiquities backlash. On-chain investigator ZachXBT responded by demanding answers about the alleged $40 million transfer to Chinese authorities that he says Bankman-Fried hid from the public.
Meanwhile, venture capitalist Adam Cochran He said Bankman-Fried continues to show no remorse for his role in the collapse, arguing that his attempts to reconstruct events are precisely the reason why he deserves a harsh punishment and cannot rewrite history.
This latest episode comes just days after another court setback for Bankman-Fried, with New York’s Second Circuit judges giving little indication that they are convinced by his appeal claims. During Tuesday’s hearing, SBF’s attorney, Alexandra Shapiro, Argue His conviction should be overturned because the first trial was “fundamentally unfair,” but the three-judge appeals panel repeatedly countered and questioned whether he had any strong enough grounds to overturn the jury’s verdict in a case involving billions in losses. Judge Barrington Parker told Shapiro,
“From my reading of the record, (there was) very strong evidence of guilt. Are you seriously suggesting to us that if your client had been able to testify about the role the attorneys played in preparing these various documents, the acquittals would have been entered?”
SBF Prison Novel
The renewed online battle also comes on the heels of last month’s surprise reactivation of disgraced former billionaire X’s account, which… to publish A 14-page document claims that FTX has never been “insolvent.” He had confirmed that lawyers and external political forces had sabotaged a solvable liquidity crisis.
The document insisted that the bankruptcy estate distorted FTX’s balance sheet, and that its locked-up portfolio today would be worth more than $100 billion. That account was also widely rejected by experts who said the allegations were similar to arguments the jury had already heard in 2023. The backlash then and now shows no signs of abating.
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