Sam Bankman-Fried’s latest “pre-mortem overview” receives backlash from the crypto community.
made against him in the lengthy letter and maintained that FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with approximately $350 million in cash available.
Bankman-Fried further stated that FTX International had a substantial amount of assets when John Ray became CEO. According to Bankman-Fried, “No funds were stolen. Alameda lost money due to a market crash it was not adequately hedged for–as Three Arrows and others have this year.”Unfortunately for him, the crypto community seemed unimpressed by SBFs “pre-mortem overview.”
Wall Street Silver shared, “There is no mention of the billions in ‘loans’ he took out from customer money to fund his lavish lifestyle and political donations. I am shocked his legal team has not stopped this guy from talking.”There is no mention of the the billions in “loans” he took out from customer money to fund his lavish lifestyle and political donations.
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