The crypto group has voiced their opinions on former FTX CEO Sam “SBF’ Bankman-Fried’s “pre-mortem overview” of the collapse of FTX he printed on Jan. 12 as a letter on Substack.
— SBF (@SBF_FTX) January 12, 2023
As beforehand reported by Cointelegraph, SBF denied the allegations made in opposition to him within the prolonged letter and maintained that FTX US had been “absolutely solvent” on the time the agency filed for Chapter 11 chapter, with roughly $350 million in money out there.
Bankman-Fried additional acknowledged that FTX Worldwide had a considerable quantity of belongings (roughly $8 billion) when John Ray turned CEO. In keeping with Bankman-Fried, “No funds have been stolen. Alameda misplaced cash on account of a market crash it was not adequately hedged for–as Three Arrows and others have this yr.”
Sadly for him, the crypto group appeared unimpressed by SBFs “pre-mortem overview.”
Wall Avenue Silver shared, “There isn’t any point out of the billions in ‘loans’ he took out from buyer cash to fund his lavish life-style and political donations. I’m shocked his authorized group has not stopped this man from speaking.”
SBF launched a Substack article together with his model of occasions.
There isn’t any point out of the the billions in “loans” he took out from buyer cash to fund his lavish life-style and political donations.
I’m shocked his authorized group has not stopped this man from speaking. pic.twitter.com/8hTFgRhXva
— Wall Avenue Silver (@WallStreetSilv) January 12, 2023
Fintech analyst Peruvian Bull shared, “SBF is sitting in his mum or dad’s mansion writing substack articles blaming everybody however himself for the FTX fraud. He was a genius when speaking to VCs, now instantly we’re purported to imagine he’s essentially the most incompetent CEO in historical past.”
SBF is sitting in his mum or dad’s mansion writing substack articles blaming everybody however himself for the FTX fraud.
He was a genius when speaking to VCs, now instantly we’re purported to imagine he is essentially the most incompetent CEO in historical past.https://t.co/BHwf7opIA2
— Peruvian Bull (@peruvian_bull) January 12, 2023
Appellate lawyer Michael Tex Duncan commented, “So it seems to be like SBF is now not tweeting his crimes, however as an alternative has a brand new substack to element them.”
So it seems to be like SBF is now not tweeting his crimes, however as an alternative has a brand new substack to element them.
Certain he can confess to issues greater than 280 characters at a time, but when they’re like me, I would wager the FBI brokers on the case are nonetheless irritated about having to enroll in it.
— Michael Tex Duncan – https://put up.information/texduncan (@texduncan) January 12, 2023
Bitcoin (BTC) researcher Andrew Bailey commented, “SBF has a brand new Substack put up stuffed with reconstructed numbers and tables and estimates about Alameda’s remaining months. I learn them. They’re a smokescreen. Clearly.”
SBF has a brand new Substack put up stuffed with reconstructed numbers and tables and estimates about Alameda’s remaining months. I learn them.
They are a smokescreen. Clearly.
— Andrew M. Bailey (@resistancemoney) January 12, 2023
Associated: Sam Bankman-Fried: ‘I didn’t steal funds, and I actually didn’t stash billions away’
On Jan. 12, Cointelegraph reported that Joseph Bankman, the daddy of Bankman-Fried, has reportedly employed an lawyer because the prison case in opposition to his son strikes ahead. Bankman reportedly suggested and assisted his son on issues associated to lobbying lawmakers in Washington, D.C. and should now be cooperating with the prosecutors behind SBF’s case.
Nonetheless, It stays unclear whether or not Bankman has any prison or civil legal responsibility associated to the collapse of FTX.
