Former FTX CEO SBF’s Speech To The Senate If He Wasn’t Arrested Leaked!

Also known as SBF cryptocurrency Sam Bankman-Fried, former CEO of the stock exchange FTX, was arrested on December 12, US time, a day before he was due to testify remotely before Congress.

A copy of his statement, obtained by Forbes, highlights that the former CEO plans to hold everyone but himself responsible for the collapse of his $32 billion empire.

SBF Would Again Argue that FTX.US Is Not Actually Filed For Bankruptcy

In his statement, SBF continued the same discourse about its sister company, FTX.US. He claimed that the United States-based organization was still “fully salvageable” despite being part of Chapter 11 bankruptcy, which opened on Nov. Bankman-Fried wrote:

“I wish I hadn’t clicked a button on Docusign at 4:30 am and left some of FTX under destructive leadership.”

SBF claimed that new CEO John Ray was responsible for adding FTX.US to the company’s bankruptcy process. The SBF claimed that “American customers were protected at least until Ray’s team took over.”

In the leaked document, SBF also blamed bankruptcy law firm Sullivan & Cromwell for the inclusion of FTX.US in Chapter 11. When Bankman-Fried signed the bankruptcy papers herself, she claimed that the law firm pressured her to file the Chapter 11 documents, writing:

“I have 19-page screenshots of Sullivan & Cromwell, Mr. Miller, and others I believe influenced by them, which they sent over a two-day period, pressing me to apply for Chapter 11 quickly.”

Binance Will Hold Its CEO Accountable

The SBF also attacked Ryne Miller, general counsel of FTX.US, accusing him of being part of the pressure group seeking to include the US-based organization in its bankruptcy filing.

Alongside Ray and his legal aides, SBF would also accuse Binance CEO Changpeng Zhao for allegedly making “a month of negative PR about FTX.” He claimed that Binance knowingly signed the letter of intent to acquire FTX, but that they “never intended to fulfill the deal.”

*Not investment advice.