{"id":73379,"date":"2026-02-21T06:01:32","date_gmt":"2026-02-21T06:01:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=73379"},"modified":"2026-02-21T06:01:32","modified_gmt":"2026-02-21T06:01:32","slug":"convicted-ftx-founder-sam-bankman-fried-breaks-silence-on-10-myths","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=73379","title":{"rendered":"Convicted FTX Founder Sam Bankman-Fried Breaks Silence On \u201810 Myths\u2019"},"content":{"rendered":"
\n

Sam Bankman-Fried has once again taken to social media from prison, laying out what he describes as \u201c10 myths\u201d surrounding the collapse of crypto exchange FTX and his subsequent conviction.\u00a0<\/p>\n

The former chief executive used the statement <\/a>to challenge prosecutors, the bankruptcy process, media coverage, and even the conduct of his trial.<\/p>\n

Sam Bankman-Fried Denies FTX Insolvency<\/h2>\n

Bankman-Fried began by disputing the allegation that FTX was insolvent and that $8 billion in customer funds<\/a> vanished. He contrasted statements made by prosecutors to jurors with representations made by bankruptcy debtors to the court, and that his claim of solvency was false and that he had lost billions in customer money.\u00a0<\/p>\n

Media reports, he said, reinforced the message that the funds were gone. In his version of events, however, FTX was solvent and is now repaying customers between 119% and 143% of their claims.\u00a0<\/p>\n

Bankman-Fried also rejected persistent rumors about a lavish corporate culture. Addressing allegations of \u201cpolycule orgies,\u201d Bankman-Fried flatly denied that such conduct took place.\u00a0<\/p>\n

He insisted he did not party or take vacations, noting that while FTX owned a penthouse, he personally rented only 10% of it for six months for $50,000. He maintained that his personal spending and political donations<\/a> were funded from his earnings and were less than those earnings.<\/p>\n

Secret \u2018Backdoor\u2019 For Alameda<\/h2>\n

On the events leading to FTX\u2019s bankruptcy, Bankman-Fried pushed back against the narrative that he filed because he could not meet surging withdrawal demands. According to him, there were offers to cover the liquidity shortfall and stabilize the platform.\u00a0<\/p>\n

He claimed that within three days, financing proposals were on the table and withdrawals had begun to resume, but that lawyers nonetheless proceeded with the bankruptcy filing.<\/p>\n

The former FTX CEO also addressed the structure of the exchange\u2019s trading platform, Alameda Research<\/a>, saying it was unrealistic to expect a margin exchange to be fully liquid at all times.\u00a0<\/p>\n

Margin trading, he explained, involves customers \u2014 including Alameda Research \u2014 opting into lending and borrowing through a shared collateral pool. He asserted that most assets on the exchange were part of this lending program and that FTX had sufficient liquidity to cover assets outside of it.<\/p>\n

Another key accusation he disputed was that he created a secret \u201cbackdoor\u201d in FTX\u2019s systems to siphon funds to Alameda. Bankman-Fried denied that such a mechanism existed, saying the account features in question had legitimate purposes and were not used to allow Alameda to borrow more from customers than it had lent.<\/p>\n

Pardon Hopes Fade<\/p>\n

A significant portion of his statement focused on his trial. Bankman-Fried claimed he did not receive a fair hearing, arguing that once the Department of Justice (DOJ) under former President Joe Biden and the bankruptcy debtors<\/a> took control of FTX, they controlled the narrative, access to documents, and the pool of witnesses.\u00a0<\/p>\n

Bankman-Fried also accused Judge Lewis Kaplan of restricting his ability to defend himself, including imposing a gag order, revoking his bail before trial, excluding evidence related to FTX\u2019s solvency, and advice of counsel.<\/p>\n

Regarding the revocation of his bail, Bankman-Fried maintained that it stemmed from his exercise of First Amendment rights and attempts to assist the bankruptcy debtors, rather than from witness intimidation.\u00a0<\/p>\n

The statement comes as Bankman-Fried continues to pursue a new trial in New York. Speculation that he might receive a presidential pardon<\/a> from President Donald Trump \u2014 similar to the one granted to former Binance CEO Changpeng Zhao \u2014 has largely faded.\u00a0<\/p>\n

\"FTX\"<\/p>\n

Featured image from OpenArt, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Sam Bankman-Fried has once again taken to social media from prison, laying out what he describes as \u201c10 myths\u201d surrounding the collapse of crypto exchange FTX and his subsequent conviction.\u00a0 The former chief executive used the statement to challenge prosecutors, the bankruptcy process, media coverage, and even the conduct of his trial. Sam Bankman-Fried Denies […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-73379","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/73379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=73379"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/73379\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=73379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=73379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=73379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}