PANews reported on October 5 that according to Mother Jones, FTX founder Sam Bankman-Fried (SBF) said in an exclusive interview in prison that his "biggest mistake" was handing over control of FTX to new CEO John Ray III. SBF insists he signed the transfer documents under immense pressure, claims the company never went bankrupt, and that he never defrauded anyone. He accuses John Ray III and his legal counsel (Sullivan & Cromwell) of misconduct in the bankruptcy process and incurring substantial legal fees, with total bankruptcy costs expected to exceed $1 billion.PANews reported on October 5 that according to Mother Jones, FTX founder Sam Bankman-Fried (SBF) said in an exclusive interview in prison that his "biggest mistake" was handing over control of FTX to new CEO John Ray III. SBF insists he signed the transfer documents under immense pressure, claims the company never went bankrupt, and that he never defrauded anyone. He accuses John Ray III and his legal counsel (Sullivan & Cromwell) of misconduct in the bankruptcy process and incurring substantial legal fees, with total bankruptcy costs expected to exceed $1 billion.
SBF reveals from prison: Handing FTX over to new CEO John Ray was the “biggest mistake”
2025/10/05 18:28
PANews reported on October 5 that according to Mother Jones, FTX founder Sam Bankman-Fried (SBF) said in an exclusive interview in prison that his "biggest mistake" was handing over control of FTX to new CEO John Ray III.
SBF insists he signed the transfer documents under immense pressure, claims the company never went bankrupt, and that he never defrauded anyone. He accuses John Ray III and his legal counsel (Sullivan & Cromwell) of misconduct in the bankruptcy process and incurring substantial legal fees, with total bankruptcy costs expected to exceed $1 billion.
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