Disgraced Sam Bankman-Fried who was sentenced to 25 years in prison last Thursday for his conviction on seven different fraud and conspiracy charges has broken his silence in a ‘sorry’ statement.
In an interview with ABC News, via email, the founder and former CEO of the defunct crypto exchange FTX said he is remorseful for his actions.
What He Said
‘It’s most of what I think about each day,’ Bankman-Fried started.
‘I never thought that what I was doing was illegal. But I tried to hold myself to a high standard, and I certainly didn’t meet that standard.
According to the outlet, he said: ‘I’ve heard and seen the despair, frustration and sense of betrayal from thousands of customers; they deserve to be paid in full at the current price.’
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What Actually Went Wrong?
The former FTX boss went on to say the insolvency of FTX was the result of several ‘bad decisions’ he made in 2022 and also noted that the customers ‘could and should’ have been paid in 2022, and it’s ‘excruciating to see them waiting, day after day.’
He said this after U.S. District Judge Lewis Kaplan said Bankman-Fried never offered ‘a word of remorse’ for his ‘terrible crimes’ while announcing the sentence.
