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Leaked Writings Reveal Sam Bankman-Fried’s Struggles Post-FTX Collapse

Source: Video Screenshot, YouTube / CBS News

Sam Bankman-Fried, the former CEO of crypto exchange FTX, has expressed his deep frustration and regret over the situation he finds himself in in a leaked 250-page manuscript.

In the writings, said to be leaked to crypto influencer Tiffany Fong and later shared with the New York Times, Bankman-Fried opened up about feelings of being “broke” and “hated,” and contemplated whether there’s anything he can do to change the public’s negative perception of him, Decrypt reported this weekend.

“There will probably never be anything I can do to make my lifetime impact net positive,” was among the things he wrote.

SBF justifying his role

The writings also contained drafts of tweets where Bankman-Fried attempted to justify his role in the collapse of FTX and its affiliated entities, seen as one of the largest bankruptcies in the history of crypto.

One aspect that stood out in the leaked manuscript was Bankman-Fried’s efforts to shift blame onto some of his colleagues, with a particular focus on his ex-girlfriend and former CEO of his trading firm Alameda Research, Caroline Ellison.

He argued that she evaded discussions about risk management until it was too late and that his suggestions were not well-received, likely due to their previous romantic relationship.

The manuscript also revealed Bankman-Fried’s shock upon discovering that customer funds had been appropriated by Alameda Research through an account labeled “fiat@” in the spring of 2022.

Trial approaching

Bankman-Fried’s ongoing legal battle has kept him in the spotlight, making headlines in the crypto industry.

Recently, Judge Lewis A. Kaplan dismissed his request for pretrial release, deeming the time given for preparation sufficient.

The bankruptcy proceedings of FTX are also unfolding, including a proposal to sell $3.4 billion worth of crypto.

Galaxy Digital, the crypto bank headed by Mike Novogratz, has been appointed as the investment manager for overseeing the sale.

Bankman-Fried’s trial is to begin on October 3.

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