Report: Sam Bankman-Fried, Incarcerated, Asserts FTX Victims Should Receive Full Compensation at Present Values
Sam Bankman-Fried, the founder and former CEO of the now-defunct FTX crypto exchange, is speaking out while serving his 25-year prison sentence. Following his conviction for fraud charges last year, Bankman-Fried believes that his victims should be compensated at the current market price. He expressed remorse for his actions and the harm caused to others. The Financial Times recently reported that the collapsed exchange is likely to pay former customers 120-140% of the value of their holdings on the day of FTX’s bankruptcy filing in November 2022. Bankman-Fried, who is currently behind bars, insists that there have been enough assets to repay customers for some time and that he is doing his best to assist from prison. He expressed frustration at not being able to do more to help repair the damage caused.