Convicted FTX Founder Tries to Rewrite History Again: Critics Instantly Tear Him Apart
Disgraced FTX founder Sam Bankman-Fried as soon as once more weighed in on the trade’s chapter debate after responding to a satire publish by an organization creditor that accused court-appointed CEO John J. Ray III of intentionally conserving a “completely solvent” platform in chapter so as to generate report charges and destroy property worth.
The creditor alleged that billions in priceless fairness and enterprise stakes have been bought at deep reductions, and that belongings have been mishandled, clawbacks mismanaged, and subsidiaries compelled out of business with out board authority. SBF’s X account replied,
“I don’t fairly agree with each level – however, yeah, that is mainly what occurred. I’m not saying FTX’s solvency or the Debtors’ mismanagement are the explanations I’m harmless (though it’s a chunk of the story!). But the Debtors are nonetheless withholding funds.”
No Remorse, No Accountability
His feedback instantly triggered a backlash. On-chain investigator ZachXBT responded by demanding solutions in regards to the alleged $40 million switch to Chinese authorities that he says Bankman-Fried hid from the general public.
Meanwhile, enterprise capitalist Adam Cochran said Bankman-Fried continues to present no regret for his position within the collapse, arguing that his makes an attempt to reframe the occasions are precisely why he deserves harsh punishment and doesn’t get to rewrite historical past.
The newest episode comes simply days after a recent court docket setback for Bankman-Fried, with judges on the 2nd Circuit in New York providing little indication they have been persuaded by his enchantment claims. During a listening to on Tuesday, SBF’s lawyer, Alexandra Shapiro, argued his conviction must be overturned as a result of the primary trial was “basically unfair,” however the three-judge appeals panel repeatedly pushed again and questioned whether or not he had any grounds robust sufficient to overturn a jury verdict in a case involving billions in losses. Judge Barrington Parker advised Shapiro,
“From my studying of the report, (there was) very substantial proof of guilt. Are you critically suggesting to us that in case your consumer had been ready to testify in regards to the position that attorneys performed in getting ready these varied paperwork, the not-guilty verdicts would have rolled in?”
SBF’s Prison Narrative
The renewed on-line struggle additionally follows the sudden reactivation final month of the convicted former billionaire’s X account, which posted a 14-page doc claiming FTX was “by no means bancrupt.” He had asserted that exterior legal professionals and political forces sabotaged a solvable liquidity crunch.
The doc insisted that the chapter property misrepresented FTX’s steadiness sheet, and that its locked portfolio at present can be price properly over $100 billion. That narrative was additionally broadly rejected by consultants who mentioned the claims have been related to arguments the jury had already heard in 2023. The backlash then and now reveals no indicators of fading.
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