The founder and former CEO of the now collapsed crypto exchange FTX speaks out from behind bars.
Last week, a US judge sentenced disgraced FTX founder Sam Bankman-Fried (SBF) to 25 years in prison after the former crypto magnate was convicted of fraud last year.
Now in the first week of his 25-year prison sentence, SBF says his victims deserve a payout at the full current market price, according to a new report.
“I have heard and seen the desperation, frustration and sense of betrayal from thousands of customers; they deserve to be paid in full, at the current price…
That could and should have happened in November 2022, and it could and should happen today. It is unbearable to watch them wait day after day.”
Last week, the Financial Times, citing two people “with knowledge of the restructuring negotiations,” reported that the imploded crypto exchange is likely to pay its former clients 120-140% of the value of their holdings on the day FTX files for bankruptcy in November 2022 . .
SBF also told ABC reporters that he is remorseful for his actions and the people hurt by them.
“It’s the most thing I think about every day…
I never thought what I did was illegal. But I tried to hold myself to a high standard, and I certainly didn’t meet that standard.”
The disgraced former CEO claims there are enough assets to pay back customers for some time. He says he’s doing everything he can to help from behind bars.
“I am haunted every day by what has been lost. It was never my intention to hurt anyone or take anyone’s money. But I was the CEO of FTX, I was responsible for what happened to the company, and if you’re responsible, it doesn’t matter why things are going bad. I would give anything to repair even some of the damage. I do what I can from prison, but it is extremely frustrating not to be able to do more.”
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Featured image: Shutterstock/Jorm S