Sam Bankman Fried Doesn’t Believe He’s Criminally Liable For FTX Collapse

  • Sam Bankman-Fried stated that he does not believe he is criminally liable in the collapse of FTX.
  • Under his leadership, the company lost billions. Now, it faces allegations of misuse of customer money. 
  • Although Bankman-Fried is still in the Bahamas, he said that he had “thought about” returning home to the USA. 

Sam Bankman-Fried stated that he does not believe he is legally responsible for the collapse and subsequent losses of his FTX crypto business. He claimed he had defied his lawyers’ wishes to not speak publicly. 

Bankman-Fried spoke to Andrew Ross Sorkin, a journalist, at the New York Times Dealbook Conference on Wednesday. He said, “I personally don’t think that.” When asked if he was worried about being held criminally liable for FTX’s implosion, Bankman Fried replied, “I don’t personally think so.” 

It may sound strange to say it, but that’s not what my focus is on. He said that there will be a time and a place for me to think about myself, my future, but he doesn’t believe this is it. 

Bankman-Fried stated that he would “help out” the millions and stakeholders of FTX that lost their money in the collapse of the cryptocurrency exchange. 

Bankman-Fried was published earlier in the month. resigned as CEO of FTXAfter the exchange was hit with a liquidity crisis, and allegations that it had misused customer funds to support Alameda Research, a crypto trading company, Bankman-Fried sued. The firm owes $8 billion to its creditors, and FTX’s bankruptcy sent shockwaves throughout the entire cryptocurrency industry. 

Bankman-Fried stated that his lawyers advised him to not speak about the situation. 

“It’s the classic advice. He said, “Don’t say anything, recede into a pit.”

“I have a responsibility to talk to people… He said, “I have a responsibility to talk to people… 

John Ray, a new CEO of FTX, is now running the company. recently said that Bankman-Fried is no longer employed by FTX and does not speak for the company. 

Bankman-Fried, who remained in Bahamas, where FTX is headquartered throughout the entire saga has denied that he was avoiding the US because of fears of arrest, but said he has “thought about” returning. 

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