FTX founder and former CEO Sam Bankman-Fried apparently cannot resist weighing in on his cryptocurrency exchange’s bankruptcy proceedings as he awaits trial on several federal charges linked to the platform’s collapse.
The 30-year-old continues to tweet away about the goings-on while under house arrest at his parents’ home.
Bankman-Fried has refused to stay quiet ever since the company filed for Chapter 11 bankruptcy after a proverbial run on the bank led to its downfall, and upwards of a million customers lost billions of dollars. Prior to his arrest, he made several public statements to media outlets and on Twitter spaces events explaining his version of what led to his platform’s downfall.
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After being released from custody on a $250 million bond, the disgraced former chief executive picked up where he left off before his incarceration in the Bahamas, defending himself in a lengthy Substack post.
But this week, he took to Twitter re-upping previous claims and taking further shots at FTX’s new leadership along with Sullivan and Cromwell, one of the law firms representing it in bankruptcy.
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On Tuesday, Bankman-Fried posted his own balance sheet purportedly showing the FTX U.S. “is solvent” and “always has been,” pushing back against Sullivan & Cromwell’s claims to the contrary.
Then on Thursday, the FTX founder celebrated the news that the CEO who replaced him, John Ray III, is considering re-opening the exchange.
“I’m glad Mr. Ray is finally paying lip service to turning the exchange back on after months of squashing such efforts!” Bankman-Fried tweeted. “I’m still waiting for him to finally admit FTX US is solvent and give customers their money back…”
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Bankman-Fried retweeted several posts from others, agreeing with his view that Sullivan & Cromwell should not represent FTX, alleging that Sullivan & Cromwell pressured him to file for bankruptcy and appoint Ray as the new CEO.
A bankruptcy judge on Friday agreed to allow the law firm to continue representing FTX, dismissing objections brought before the court.
Source: https://finance.yahoo.com/news/sam-bankman-fried-tweets-away-211313122.html