The disgraced FTX founder also denied that he stole or stashed billions in customer funds.
that his actions caused the bankruptcy, tweeting that “FTX killed themselves because they stole billions of dollars in user funds.”“No healthy business can be destroyed by a tweet,” Zhao added.
Bankman-Fried cycled through many of his other oft-repeated defenses in the post and maintained his innocence on the fraud charges. The former FTX boss, who has claimed to be down to his last $100,000, also denied having a secret stash of money. “I didn’t steal funds, and I certainly didn’t stash billions away,” Bankman-Fried said. “Nearly all of my assets were and still are utilizable to backstop FTX customers.”Bankman-Fried has been in a separate legal battle in bankruptcy court with the feds and multiple creditors over a $460 million stake in Robinhood.
Bankman-Fried’s post included several charts detailing his “estimates” of the financial situations at FTX and Alameda. He claimed that Alameda had a net asset value of $100 billion as recently as 2021.“All of which is to say: no funds were stolen,” Bankman-Fried wrote. “Alameda lost money due to a market crash it was not adequately hedged for.”
Bankman-Fried is currently under house arrest at his parents’ mansion in California. He faces up to 115 years in prison if convicted on all charges.Several former FTX and Alameda executives, including Caroline Ellison and Gary Wang, are cooperating with authorities on their case against Bankman-Fried.
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