Former FTX CEO Sam Bankman-Fried has denied stashing away billions of dollars.
In a new post, Bankman-Fried also believes the U.S. of the business remains solvent, and can be used to repay customers.
“I didn’t steal funds, and I certainly didn’t stash billions away,” Bankman-Fried wrote. “Alameda lost money due to a market crash it was not adequately hedged for.”
Bankman-Fried faces numerous federal charges including conspiracy to commit fraud and is now free on bail at his parents’ home in California.
He has pleaded not guilty to the charges.
He also did not address the $65 billion dollar line of credit he opened from the exchange to the trading arm, as revealed in court documents. #Crypto #FTX
