The founder of FTX, Samuel Bankman-Fried, currently faces potential prison time of over a century due to charges against the company. However, this has not stopped him from moving on and starting a new venture. Bankman-Fried has recently created a newsletter on the Substack platform to continue defending his innocence and share his thoughts on the situation with FTX.
Despite facing eight counts and the cooperation of former colleagues in court, Bankman-Fried maintains his innocence and has promised refunds for clients in the United States. He also claims that FTX US is still fully solvent and able to return all client funds and that FTX International still has significant assets for client compensation. This statement aligns with recent announcements by the liquidators of the platform, who have recovered 5 billion dollars in assets.
In true fashion of the “Robin Hood” image he previously presented to the public, Bankman-Fried states that he plans to devote almost all of his personal assets to helping clients. This may explain the recent increase in the value of the FTT house token, which has tripled in one week.
It remains to be seen what the outcome of the charges against FTX and Bankman-Fried will be, but it is clear that he is not going down without a fight. Through his newsletter, he continues to assert his innocence and promise to make things right for his clients. The future of FTX is uncertain, but one thing is for sure: the story of Samuel Bankman-Fried and his involvement with the company will continue to unfold.