FTX Founder SBF Gives First Interview Since Sentencing: Claims to Be “Haunted by Daily Losses”

FTX Founder SBF Gives First Interview Since Sentencing: Claims to Be "Haunted by Daily Losses"

FTX Founder SBF Gives First Interview Since Sentencing: Claims to Be "Haunted by Daily Losses"

Sam Bankman-Fried (SBF), the founder of the bankrupt cryptocurrency exchange FTX, expressed regret for his fraudulent behavior that led to his imprisonment in his first media interview after detention, stating, “It’s almost all I think about every day.”

The collapse of FTX in November 2022 resulted in $8 billion in customer losses. The US prosecutors accused SBF, who was the CEO of FTX at the time, of embezzling customer funds for political donations, investments, and personal interests. Last autumn, SBF was convicted of seven counts of fraud, conspiracy, and money laundering. Ultimately, a US judge sentenced him to 25 years in prison last week.

SBF, through an email from the Metropolitan Detention Center in Brooklyn last weekend, revealed exclusively to ABC News that FTX’s bankruptcy was the result of several “wrong decisions” he made in 2022, saying:

In his sentencing last Thursday, US judge Lewis Kaplan stated that SBF had perjured himself in his testimony and “often hedged his words.” The judge also said that the defendant had never expressed remorse for committing serious crimes. However, SBF stated in the interview that he “certainly” feels remorse, saying:

SBF still believes that FTX’s customers, both in November 2022 and now, should and can receive full compensation. He also expressed pain for the wait that the customers have endured. He added that he feels the pain of his former colleagues and the charitable organizations he supported.

SBF claimed that the law firm representing FTX, Sullivan & Cromwell, which represents the new ownership of FTX, influenced the entire trial process. In a court filing submitted last year, SBF accused Sullivan & Cromwell of collaborating with the prosecutors and claimed that he had the right to access FTX documents shared between the law firm and the prosecutors. As a result, SBF stated on Sunday that he did not receive a fair trial, saying:

A spokesperson for Sullivan & Cromwell responded to ABC News on Monday, quoting the judge’s sentencing, stating that SBF perjured himself on the witness stand and adopted a media strategy to blame lawyers and the bankruptcy process for investors’ losses instead of taking responsibility for his own crimes.

SBF also stated that his defense team plans to file an appeal later this year, citing that certain trial testimonies “severely distorted what actually happened” and that his defense lawyers were “not allowed to present crucial evidence or subpoena important witnesses.” He did not provide specific details and explained that he did not want to affect the legal strategy of the defense team.