Crypto Community unimpressed by SBF’s lengthy substack letter
The crypto community has voiced their opinions on Sam Bankman-Fried’s latest “pre-mortem overview” of the collapse of FTX, published on Jan. 12 as a letter on substack.
https://t.co/XVd0BPHxEU
As previously reported by Cointelegraph, the former FTX CEO Sam Bankman-Fried denied allegations made against him in his lengthy letter, dubbed as a "pre-mortem overview",. In the letter, SBF maintained that FTX US had been "fully solvent" at the time the firm filed for Chapter 11 bankruptcy, with approximately $350 million in cash available.
Bankman-Fried further stated that FTX International had a substantial amount of assets, approximately $8 billion, when John Ray became the CEO. According to Bankman-Fried, “No funds were stolen. Alameda lost money due to a market crash it was not adequately hedged for–as Three Arrows and others have this year.”
Unfortunately for SBF, the crypto community seemed unimpressed by his “pre-mortem overview” of the collapse of FTX.
The Wall Street Silver shared “There is no mention of the billions in “loans” he took out from customer money to fund his lavish lifestyle and political donations. I am shocked his legal team has not stopped this guy from talking.”
SBF released a Substack article with his version of events.There is no mention of the the billions in “loans” he took out from customer money to fund his lavish lifestyle and political donations.I am shocked his legal team has not stopped this guy from talking. pic.twitter.com/8hTFgRhXva
Fintech analyst Peruvian Bull shared “SBF is sitting in his parent's mansion writing substack articles blaming everyone but himself for the FTX fraud. He was a genius when talking to VCs, now suddenly we're supposed to believe he's the most incompetent CEO in
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