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'I didn't steal funds,' Sam Bankman-Fried says in unusual post-arrest blog post

By Luc Cohen NEW YORK (Reuters) - Sam Bankman-Fried said he did not steal money and blamed the collapse of his now-bankrupt FTX exchange on a broad crash in cryptocurrency...
'I didn't steal funds,' Sam Bankman-Fried says in unusual post-arrest blog post © Reuters. FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, departs from his court hearing at Manhattan federal court in New York City, U.S. January 3, 2023. REUTERS/David De

By Luc Cohen

NEW YORK (Reuters) - Sam Bankman-Fried said he did not steal money and blamed the collapse of his now-bankrupt FTX exchange on a broad crash in cryptocurrency markets, in a highly unusual blog post on Thursday, a month after his arrest on U.S. fraud charges.

Federal prosecutors in Manhattan last month said Bankman-Fried stole billions of dollars from FTX customers to pay debts for his crypto-focused hedge fund, Alameda Research, purchase lavish real estate, and donate to U.S. political campaigns.

He has pleaded not guilty.

"I didn't steal funds, and I certainly didn't stash billions away," Bankman-Fried wrote in the blog published on Substack, in a rare public statement by a U.S. criminal defendant.

Defense lawyers typically advise clients to stay silent before trial because prosecutors may use their comments against them in court. His trial is scheduled to start on Oct. 2, 2023.

A spokesman for Bankman-Fried declined to comment.

In the post, Bankman-Fried did not directly address many of the other charges brought against him by federal prosecutors in Manhattan last month, namely that he misled investors and lenders about the financial conditions of FTX and Alameda.

He wrote that Alameda failed to hedge against an "extreme" crash in the crypto markets, which ultimately came to pass last year.

"As Alameda became illiquid, FTX International did as well, because Alameda had a margin position open on FTX," Bankman-Fried wrote.

The 30-year-old onetime billionaire also said FTX's U.S. wing is "fully solvent" and that its international unit has many billions of dollars in assets.

"If it were to reboot I believe there is a real chance that customers could be made substantially whole," he wrote.

Last month, two of his closest associates pleaded guilty to defrauding the trading platform's customers and agreed to cooperate with prosecutors' investigation.

Caroline Ellison, Alameda's former chief executive, said in her plea hearing that Bankman-Fried and other FTX executives received billions of dollars in secret loans from Alameda.

Bankman-Fried was released on a $250 million bond in December and put under house arrest at his parents' Palo Alto, California home, which was pledged as collateral for his return to court.

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24-03-2023 23:35:07 (UTC+7)

EUR/USD

1.0754

-0.0076 (-0.71%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (8)

EUR/USD

1.0754

-0.0076 (-0.71%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (8)

GBP/USD

1.2224

-0.0062 (-0.50%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (5)

USD/JPY

130.70

-0.12 (-0.09%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (11)

Sell (0)

AUD/USD

0.6639

-0.0044 (-0.66%)

Summary

↑ Sell

Moving Avg:

Buy (0)

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Indicators:

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USD/CAD

1.3755

+0.0042 (+0.31%)

Summary

Buy

Moving Avg:

Buy (6)

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Buy (7)

Sell (2)

EUR/JPY

140.55

-1.12 (-0.79%)

Summary

Neutral

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Buy (4)

Sell (3)

EUR/CHF

0.9871

-0.0054 (-0.54%)

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↑ Sell

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Gold Futures

1,987.40

-8.50 (-0.43%)

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↑ Sell

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Silver Futures

23.308

+0.052 (+0.22%)

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↑ Sell

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Buy (2)

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Copper Futures

4.0642

-0.0593 (-1.44%)

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Crude Oil WTI Futures

68.69

-1.27 (-1.82%)

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Neutral

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Brent Oil Futures

74.48

-1.43 (-1.88%)

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Natural Gas Futures

2.216

+0.062 (+2.88%)

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Buy (8)

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US Coffee C Futures

179.07

+4.77 (+2.74%)

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↑ Buy

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Buy (12)

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Euro Stoxx 50

4,130.75

-76.39 (-1.82%)

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↑ Buy

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Buy (12)

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Buy (7)

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S&P 500

3,940.00

-8.72 (-0.22%)

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↑ Buy

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Buy (8)

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DAX

14,956.85

-253.54 (-1.67%)

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↑ Buy

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FTSE 100

7,405.89

-93.71 (-1.25%)

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↑ Buy

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Buy (11)

Sell (0)

Hang Seng

19,915.68

-133.96 (-0.67%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (5)

US Small Cap 2000

1,728.50

+5.30 (+0.31%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (1)

IBEX 35

8,797.34

-172.66 (-1.92%)

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↑ Buy

Moving Avg:

Buy (11)

Sell (1)

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Buy (6)

Sell (2)

BASF SE NA O.N.

45.865

-0.510 (-1.10%)

Summary

↑ Buy

Moving Avg:

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Buy (6)

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Bayer AG NA

55.52

-0.42 (-0.75%)

Summary

Neutral

Moving Avg:

Buy (12)

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Buy (2)

Sell (5)

Allianz SE VNA O.N.

204.90

-1.90 (-0.92%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Buy (7)

Sell (2)

Adidas AG

140.90

-1.40 (-0.98%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

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Buy (6)

Sell (3)

Deutsche Lufthansa AG

9.355

-0.488 (-4.96%)

Summary

↑ Sell

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Buy (0)

Sell (12)

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Siemens AG Class N

140.35

-4.83 (-3.33%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (5)

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Deutsche Bank AG

8.528

-0.808 (-8.65%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

 EUR/USD1.0754↑ Sell
 GBP/USD1.2224Sell
 USD/JPY130.70↑ Buy
 AUD/USD0.6639↑ Sell
 USD/CAD1.3755Buy
 EUR/JPY140.55Neutral
 EUR/CHF0.9871↑ Sell
 Gold1,987.40↑ Sell
 Silver23.308↑ Sell
 Copper4.0642↑ Sell
 Crude Oil WTI68.69Neutral
 Brent Oil74.48Sell
 Natural Gas2.216↑ Buy
 US Coffee C179.07↑ Buy
 Euro Stoxx 504,130.75↑ Buy
 S&P 5003,940.00↑ Buy
 DAX14,956.85↑ Buy
 FTSE 1007,405.89↑ Buy
 Hang Seng19,915.68Sell
 Small Cap 20001,728.50↑ Buy
 IBEX 358,797.34↑ Buy
 BASF45.865↑ Buy
 Bayer55.52Neutral
 Allianz204.90↑ Buy
 Adidas140.90↑ Buy
 Lufthansa9.355↑ Sell
 Siemens AG140.35↑ Buy
 Deutsche Bank AG8.528↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,670/ 6,720
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SJC HCM6,665/ 6,735
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(10/ 10) # 1,049
SJC Nhatrang6,665/ 6,737
(10/ 10) # 1,049
SJC Cantho6,665/ 6,737
(10/ 10) # 1,049
Cập nhật 24-03-2023 23:35:09
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ↀ Giá vàng thế giới
$1,985.95-5.91-0.30%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.96024.430
RON 95-III23.03023.490
E5 RON 92-II22.02022.460
DO 0.05S19.30019.680
DO 0,001S-V20.56020.970
Dầu hỏa 2-K19.46019.840
ↂ Giá dầu thô thế giới
WTI$68.62+0.961.38%
Brent$74.05+1.041.39%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.310,0023.680,00
EUR24.686,0926.068,31
GBP28.041,8629.237,51
JPY175,83186,14
KRW15,7019,13
Cập nhật lúc 18:55:01 24/03/2023
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