FTX Founder Bankman-Fried Claims Innocence Amid Prison Sentence Stocks Plunge
1min read Sam Bankman-Fried, the former CEO of FTX, recently sat down for an interview with Tucker Carlson while incarcerated in Brooklyn’s metropolitan Detention Centre. During the interview, Bankman-Fried maintained his innocence, asserting that FTX was a legitimate service and that the company was still solvent despite the crisis. He expressed confusion over his conviction for fraud, suggesting that the collapse of FTX was due to liquidity issues rather than any intentional wrongdoing.
Bankman-Fried shared his thoughts on his prison experience, describing it as "dystopian" and monotonous. He spends most of his time reading books, playing chess with other inmates, and working on his legal case. He feels safe in prison but is concerned about having enough time to prepare his legal defense. He also mentioned sharing a cell block with rapper Sean Combs and turning 33 on the day of the interview.
Bankman-Fried discussed his political views and contributions, revealing that he was initially a center-left supporter and donated to Biden’s campaign in 2020. However, his views shifted over time, and by late 2022, he was giving to Republicans privately as much as Democrats. He suggested that this shift in political contributions may have played a role in the public perception of FTX’s collapse.
Bankman-Fried also criticized the SEC chairman Gary Gensler, claiming that he was politically biased and sought power by blocking the crypto industry. He expressed frustration with the SEC’s actions and suggested that the regulatory environment under a Trump presidency might be more favorable for the crypto industry. However, he did not explicitly ask for a pardon from Trump during the interview.
Bankman-Fried’s legal troubles began in November 2022 when FTX filed for bankruptcy due to liquidity issues. He and four other executives faced criminal charges, but only Bankman-Fried, Caroline Ellison, and Ryan Salame received prison sentences. Bankman-Fried is currently awaiting an appeal in Brooklyn’s Metropolitan Detention Centre, where he mainly eats rice and beans and laments the lack of visits from former FTX employees.
Bankman-Fried’s interview with Carlson highlighted his lack of remorse for the pain he caused his customers by using their deposits to cover his trading losses. He preferred to focus on his ties with the Republican Party and his potential appeal, suggesting that banks often use deposits to invest in assets. 