Sam Bankman-Fried: ‘I never intended to hurt anyone’

Sam Bankman-Fried (SBF), currently making headlines as the most notable figure in the industry, has recently spoken out prior to beginning his federal prison sentence.

“I never thought that what I was doing was illegal,” SBF said in an interview with ABC News.

After being sentenced by Judge Lewis Kaplan of the Southern District of New York on March 28, Sam Bankman-Fried (SBF) began serving a 25-year prison term following his April 1 interview.

The previous CEO answered emails sent by the media organization while he was in prison at the Metropolitan Detention Center in Brooklyn.

“Every day, I’m deeply troubled by the past losses. I never meant to cause harm or take unfair advantage of anyone,” expressed a contrite SBF.

Under Bankman-Fried’s management, things took a downturn, which he openly acknowledged. Additionally, he expressed a strong inclination to rectify past mistakes.

He expressed his strong desire to contribute in some way to fixing the issue, lamenting his limitations while incarcerated: “I wish I could help repair anything, let alone the damage in its entirety. All I can do is offer what assistance I can from here, but it’s incredibly disappointing not being able to do more.”

During SBF’s sentencing hearing, Judge Lewis Kaplan criticized him for evading the truth and failing to genuinely express remorse for his involvement in one of cryptocurrency’s most significant collapses.

“Not a word of remorse,” Kaplan was noted saying in a statement.

However, Bankman-Fried disagrees. “I do feel remorseful,” he responded a few days afterwards, acknowledging the profound sadness and sense of deception experienced by many FTX users.

SBF expressed that they are entitled to receive their full compensation based on current rates during November 2022, which he believed was the fair outcome when FTX declared bankruptcy.

“It’s excruciating to see them waiting, day after day.”

He additionally claimed that FTX possesses adequate resources to reimburse its clients based on “current market values or values at the time.” He attributed the exchange’s refusal to resume operations after his exit as the cause of the situation.

Bankman-Fried didn’t just pause there. He spoke about the deep feelings he experienced watching the consequences of the scandal on his team members and their previously esteemed philanthropic initiatives, which now carried a negative connotation due to recent events.

As SBF pointed his finger at Sullivan & Cromwell, the attorneys representing FTX’s new leadership, the situation grew more complex. He claimed their supposed bias and tight-knit connection to the prosecution team could impact the impartiality of his upcoming trial.

He accused the process of being biased, identifying the company’s involvement and the supposedly created media controversy as key sources of his displeasure.

Moving forward, Bankman-Fried announced intentions for an appeal. His approach involves challenging inaccuracies in the trial testimony, labeling them as significantly distorting the true events. Additionally, SBF voiced concerns over restrictions imposed on his defense team. They were barred from presenting crucial evidence and summoning essential witnesses.

Read More

2024-04-02 14:12