FTX Founder Sam Bankman-Fried Advocates Full Compensation for Victims, Despite Incarceration
The founder and former CEO of the now-collapsed FTX crypto exchange, Sam Bankman-Fried (SBF), is speaking out from prison following his sentencing to 25 years for fraud charges.
Despite his incarceration, SBF asserts that victims deserve full compensation at current market prices, expressing remorse for the harm caused and the prolonged wait for restitution. He acknowledges the impact on thousands of customers and emphasizes his efforts from behind bars to assist in addressing the damage.
Reports indicate that the defunct exchange may offer former customers 120-140% of their holdings’ value from FTX’s bankruptcy filing in November 2022. SBF’s statements reflect a mix of regret, accountability, and determination to aid in resolving the situation despite his constrained circumstances.
Clever Robot News Desk 2nd April 2024
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