Move over000 Archives Twitter Spaces, Sam Bankman-Fried has a new platform to opine on about the collapse of his cryptocurrency empire.
The founder and former CEO of failed crypto exchange FTX, Sam Bankman-Fried, also known as SBF, launched a newsletter via Substack on Thursday. The first and only post at this time, titled FTX Pre-Mortem Overview, is a rundown of SBF's version of events that led to the demise of his company.
This post marks the first time Bankman-Fried has spoken out since his arrestin the Bahamas on Dec. 12. SBF is facing multiple criminal charges, ranging from wire fraud to money laundering.
For those who have listened to the multiple audio interviews that Sam Bankman-Fried gave to crypto influencers on Twitter Spaces prior to his arrest, the details in this post will sound quite familiar. SBF continues to claim that he's unaware of what was going on at his crypto hedge fund, Alameda Research, and the improper transfer and use of customer funds from FTX to Alameda.
The head of Alameda Research at the time was SBF's ex-girlfriend Caroline Ellison, who accepteda plea deal and has agreed to cooperate with prosecutors in the case against Bankman-Fried.
SBF claims that Alameda Research was a victim of downturns in the market and eventually "Alameda’s contagion spread to FTX." SBF cites other recently failed crypto firms, like Celsius and Voyager, in an attempt to show that this was an industry-wide issue and not unique to FTX.
Bankman-Fried also continued to criticize FTX's legal counsel, Sullivan & Cromwell. SBF has maintained that he could have continued to raise liquidity which would have saved FTX from failure and made its customers whole. However, according to the former FTX CEO, Sullivan & Cromwell pressured him to file for Chapter 11 bankruptcy instead.
FTX was once one of the largest crypto exchanges in the world. Shortly before its collapse, FTX was valued at $32 billion. In November, reports from Coindesk and independent crypto investigator Mike Burgersburg revealed that FTX's hedge fund, Alameda Research, appeared to be insolvent. As a result of this news, competing crypto exchange Binance sold off its holdings of FTX's own crypto token, FTT. FTX customers followed, with billions of dollars being withdrawn from the exchange.
This Tweet is currently unavailable. It might be loading or has been removed.
According to the stock website, Unusual Whales, SBF initially launchedhis Substack with a paid subscription, asking readers for either $8 a month, $80 a year, or $150 for a "founding" yearly subscription. The payment plans have since been removed entirely from SBF's Substack.
Bankman-Fried is currently out on a $250 million bond, awaiting trial at his parents' home per the condition of bail.
Topics Cryptocurrency
Previous：Cogito Zero Sum
Mommy Issues
Your new house could have built in Wi
Google's likely ditching HTC for LG when it comes to the next Pixel
Yoko Ono will receive songwriting credit on John Lennon's 'Imagine'
An Uneven Disaster
Twitter totally solves all of its problems with new profile photos
Conor McGregor gloriously trolled Floyd Mayweather in announcing their much
Oprah and her dog as 'Wonder Woman' twins are total squad goals
Raise Your Hand
An AI just beat 'Ms. Pac
The Tyranny of the Takes
The Killers just dropped new music and we are so here for it
Oprah and her dog as 'Wonder Woman' twins are total squad goals
A car park space in Hong Kong just sold for the low low price of $664,260
The single greatest interview we have ever read in a magazine, and more.
This Spider
Family seeks live
Parents' reaction to daughter's tattoo is priceless
Tokens of Appreciation
How tablets are transforming the lives of young refugees in sub
Watch 'Love Island UK' season 11 in the U.S.: Streaming and VPN dealsChatGPT is ableist toward applicants with disabilities, new study findsXiaomi unveils new logo for subFrance vs. Poland 2024 livestream: Watch Euro 2024 for freeTalking Tom AI robot to launch before lunar new year · TechNodeBaidu reports Q3 revenue dip, AI Cloud growth remains strong · TechNodeDenmark vs. Serbia 2024 livestream: Watch Euro 2024 for freeByteDance aims to launch videoSamsung invests $15.2 million to expand semiconductor packaging at Suzhou plant · TechNodeThe most spectacular images of Venus ever capturedUber set to invest in selfAlbania vs. Spain 2024 livestream: Watch Euro 2024 for freeWatch 'Love Island UK' season 11 in the U.S.: Streaming and VPN dealsInside Andy Cohen's 'WWHL': A behindNASA's ambitious robots find each other in the Mars desertThis 'House of the Dragon' character is quickly becoming more hated than JoffreyChatGPT is ableist toward applicants with disabilities, new study findsNASA thinks space is teeming with rogue planetsJD.com reports 5.1% revenue growth in Q3 2024 · TechNodeThe Dr Disrespect allegations and fallout, explained Best Fire Stick deal: Save $20 on Amazon Fire Stick 4K NYT Strands hints, answers for March 3 Best earbuds deal: Save 26% on Soundcore Space A40 noise Apple announces the M3 iPad Air with Apple Intelligence Apple's full Siri overhaul might be pushed back to 2027 'Anora' ending, explained: Sean Baker and sex workers share their thoughts Best earbuds deal: Save $30 on Beats Fit Pro Wordle today: The answer and hints for March 4, 2025 Oscars 2025: The best and worst moments 'The White Lotus' Season 3, episode 3: What does Victoria's tsunami dream mean? Best Apple deal: Save $300 on Apple Studio Display Forget flip phones, Lenovo’s latest concept is a flip laptop Best Google Pixel deal: Save $200 on Google Pixel 9 Samsung The Frame deal: Get up to 40% off at Samsung Is 'Anora' streaming?: How to watch the Best Picture winner Real Madrid vs. Atletico Madrid 2025 livestream: Watch Champions League for free Xiaomi's SU7 Ultra supercar: Yes, we have pics Oscars honors Quincy Jones with lively performance of 'Ease On Down the Road' World's largest call center using AI to 'neutralize' Indian employees' accents Best 4K TV deal: Save $157 on LG 86
1.8857s , 8222.5390625 kb
Copyright © 2025 Powered by 【2000 Archives】,Pursuit Information Network