FTX founder Sam Bankman-Fried denies stealing user funds and repeats claims of solvency in new post
Publishing timestamp: 2023-01-12 13:00:01
Summary
FTX co-founder Sam Bankman-Fried denied federal allegations that he misappropriated $8 billion in customer assets, and suggested that Binance CEO Changpeng "CZ" Zhao conducted monthslong effort to bring down FTX. Bankman-Fried's trial will begin in October, and he has denied the allegations of fraud and money laundering. He claims that FTX US remains solvent and that collapse of his hedge fund Alameda Research was due to broader market turbulence.
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