The founder and former CEO of the now-collapsed FTX crypto exchange is speaking 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 tycoon was convicted of fraud charges last year.
Now, in the first week of his 25-year sentence, SBF says his victims deserve a payout at full current market price, according to a new report.
“I’ve heard and seen the despair, frustration and sense of betrayal from thousands of customers; they deserve to be paid in full, at current price…
That could and should have happened in November 2022, and it could and should happen today. It’s excruciating to see them waiting, day after day.”
Last week, citing two people “with knowledge of the restructuring negotiations,” the Financial Times reported that the imploded crypto exchange will likely pay its former customers 120-140% of the value of their holdings on the day FTX filed for bankruptcy in November 2022.
SBF also told ABC reporters that he is remorseful for his actions and the people who were hurt by them.
“It’s most of what I think about each day…
I never thought that what I was doing was illegal. But I tried to hold myself to a high standard, and I certainly didn’t meet that standard.”
The disgraced former CEO maintains that there have been enough assets to pay back customers for some time. He says he’s doing all that he can to help from behind bars.
“I’m haunted, every day, by what was lost. I never intended 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 when you’re responsible it doesn’t matter why it goes bad. I’d give anything to be able to help repair even part of the damage. I’m doing what I can from prison, but it’s deeply frustrating not to be able to do more.”
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