Sam Bankman-Fried, the former crypto star turned alleged white-collar criminal, has spoken out for the first time since his arrest last month
“I didn’t steal funds, and I certainly didn’t stash billions away,” he writes in a newly launched Substack. Bankman-Fried is under house arrest at his parents’ home in Palo Alto, California, while awaiting trial. He pleaded not guilty to multiple federal counts of fraud and conspiracy related to the collapse of his crypto empire.
In what he calls a “pre-mortem overview” of FTX’s collapse, Bankman-Fried reiterates claims he made in November after the crypto exchange filed for bankruptcy and before he was arrested. Among the key themes: Some of Bankman-Fried’s claims directly contradict allegations by US prosecutors that FTX customers funds were being siphoned to plug holes at Alameda in violation of FTX’s terms of service.
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