Embattled FTX Founder, Sam Bankman-Fried, Expresses Remorse and Announces Appeal

By: Eva Baxter

The former CEO of leading crypto exchange, FTX, Sam Bankman-Fried, has not only expressed deep remorse for the actions leading to his 25-year prison sentence, but has also voiced his intentions to appeal the decision. Charged for fraud, Bankman-Fried indicated his sympathies for the countless customers who experienced significant financial losses due to the insolvency of FTX. The condemned chief contends that he would have managed to reimburse customers by now, had he or any other FTX employee remained as CEO. Nonetheless, he indicated frustration at the limitations of his current predicament as related to efforts aiming at compensating the afflicted.

Bankman-Fried further alleged that the trial he underwent was not objective, accusing the law firm representing FTX’s new owners of collusion with the prosecution by withholding crucial FTX documents. Furthermore, he criticized their alleged involvement in manipulating media coverage of the trial. A spokesperson for the firm rebutted these claims, stressing Bankman-Fried’s evasion, lack of remorse and continual defiance of responsibility for his actions. Meanwhile, the ex-CEO’s defense team preps for an appeal they aim to file later this year, citing misrepresentation of events and limitations on presenting key evidence and witnesses during the initial trial.

As Bankman-Fried begins serving his sentence, he reflects on the gravity of his situation, expressing an aspiration to make positive changes in spite of his restrictive circumstances. Further announcements are expected regarding his appeal and future steps.