From his detention facility in Brooklyn, Sam Bankman-Fried has initiated a media campaign aiming to refute damaging allegations related to his leadership of FTX. In this effort, he has published a document titled “10 Myths,” where he asserts that the exchange was never insolvent and that the legal proceedings against him have been inherently biased.
Bankman-Fried”s claims include the assertion that customers are recovering up to 143% of their funds, though this figure is under scrutiny. Critics argue that this calculation is based on the valuation from November 2022, meaning that a user who held one Bitcoin would only receive approximately $17,000, which falls short of the current market price.
Additionally, he has addressed troubling comparisons between his social life and that of notorious financier Jeffrey Epstein. He emphatically rejected rumors of sexual misconduct and stated, “There were no polycules or orgies,” seeking to dismantle the narratives that emerged during FTX”s tumultuous collapse.
Bankman-Fried also criticized the legal team and restructuring efforts led by John Ray III, claiming they prioritized profit over the company”s recovery. He contended that viable external financing options existed that could have mitigated the liquidity crisis without necessitating a full bankruptcy declaration.
As expected, his recent statements have stirred volatility within the FTT token market, despite the improbability of a presidential pardon for his 25-year sentence. His ongoing attempts to reshape the narrative surrounding his case continue to provoke discussions and debates within the larger cryptocurrency ecosystem.
