July 16, 2024

Sam Bankman-Fried: "I never meant to cause harm to anybody"

April 02, 2024
2Min Reads
443 Views

The most notorious name in the business right now, Sam Bankman Fried (SBF), has made his final remarks before being sent to federal jail.

SBF stated, "I never thought that what I was doing was illegal," during an ABC News interview.

The interview on April 1 comes after SBF was sentenced by United States District Court for the Southern District of New York Judge Lewis Kaplan. SBF was sentenced to 25 years in federal prison on March 28.

Emails from the media outlet from the Metropolitan Detention Center in Brooklyn were answered by the former CEO.

"Every day, the memory of what was lost haunts me. A regretful SBF stated, "I never intended to injure anyone or take anyone's money.
 

Bankman-Fried did not hold back in admitting that things deteriorated while he was in charge. In addition, he gave a brief update on his mental health, indicating a strong desire to undo some of the harm he had caused.

"I would do anything to be able to assist in even partially repairing the damage. I'm making the most of my time in prison, but I wish I could do more," he remarked.

Judge Lewis Kaplan had criticized SBF on the day of his sentencing for lying and failing to express genuine contrition for his part in one of the largest collapses in the history of the cryptocurrency industry.

In a statement, Kaplan was quoted as stating, "Not a word of regret."


Bankman-Fried, however, begs to differ. A few days later, he responded, "Of course, I'm remorseful," touching on the deep-seated hurt and betrayal that many FTX consumers felt.

SBF stated, "They should be paid in full, at current prices," and that this is what ought to have transpired in November 2022—the month that FTX declared bankruptcy.

"Watching them wait day after day is agonizing."

Additionally, he said that the FTX has enough assets to pay back its clients "at current prices or prices at the time." He attributed the failure of the exchange to relaunch the business after his exit.
 

He continued after that. Bankman-Fried experienced the emotional toll of seeing his colleagues' consequences as well as the tarnished humanitarian programs he had championed due to the incident.

SBF's attacks on Sullivan & Cromwell, the law firm defending FTX's new management, deepened the conspiracy. He claimed they were biased and that the fairness of his trial was compromised by their close ties to the prosecutors.

"The process was tainted," he said, blaming the firm's clout and the ensuing media frenzy for the majority of his ire.
 

Bankman-Fried looked ahead and disclosed intentions to file an appeal. As part of his plan, he will point out errors in the trial testimony and argue that it "greatly misstated" what actually happened. SBF also objected to the limitations imposed on his defense, such as the inability to call crucial witnesses and provide important evidence.


 

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