National

FTX Founder Blames Binance CEO for Run on Bank

USA – Disgraced FTX founder Sam Bankman-Fried breaking his silence since he was extradited and arraigned in a New York court on a site where he summarized the downfall of FTX.

Published

3 years ago

January 12, 2023

Berthony McDermott

USA – Disgraced FTX founder Sam Bankman-Fried breaking his silence since he was extradited and arraigned in a New York court on a site where he summarized the downfall of FTX.

In a lengthy Substack post, Bankman-Fried accusing Binance’s CEO of targeting FTX and plotting its demise.

Binance at one point, revealed plans to purchase part of the now-fallen company but pulled out after the company went belly up.

The 30-year-old alleges a tweet from the Binance CEO ended an “extremely effective months-long pr campaign against FTX.”

The blog post has some of Bankman-Fried’s first public comments since he pleaded not guilty to eight federal charges of fraud in connection to FTX’s collapse.

In the post the disgraced former crypto giant maintaining his innocence saying, “I didn’t steal funds and I certainly didn’t stash billions away.”

“Nearly all of my assets were and still are utilizable to backdrop FTX customers.”

Bankman-Fried has also been in a legal battle with multiple creditors over his stake in Robinhood. His lawyers have argued he should retain the stake to help fund legal fees.

In that lengthy post, he said: “I have offered to contribute nearly all of my personal shares in Robinhood to customers – or 100%, if the Chapter 11 team would honor my D&O legal expenses indemnification.”

It also included estimates from his crypto hedge fund Alameda Research which went into solvency and filed for bankruptcy back in November.