Sam Bankman-Fried allegedly used anti-psychotic medications at FTX

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Crypto Regulation
Sam Bankman-Fried allegedly used anti-psychotic medications at FTX

Sam Bankman allegedly used anti-psychotic drugs during his FTX tenure to counter depression.

SBF and the untold drug use story

Sam Bankman-Fried, the former chairman and founder of FTX, will be held on remand after a Bahamas court rejected his bail on Tuesday.

Magistrate Judge Joyann Ferguson-Pratt scheduled a repatriation hearing for Feb. 8. Bankman-Fried’s attorneys initially requested that he be cleared on $250,000 bail, contending that he was required to be able to take meds on a consistent schedule. 

The medication includes Zyrtec, an over-the-counter allergy medication. He also brought forward a plea of having a strict vegan diet. According to Coindesk, police followed Bankman-Fried’s parents to his residence in Albany, Bahamas, to grab Adderall pills. In his testimony on Tuesday, Bankman-Fried accepted taking 10 mg of Adderall at a 4hr interval, in addition to Emsam patches for depression.

Crypto mogul Jack Silverman stated that there had been a new angle for FTX fraud that individuals should take into creation: the crypto exchange failed as a result of improper biohacking.

Bail for Bankman-Fried, per the Bahamas federal authorities, would violate an agreement with the United States that mandates that suspects be detained while extradition proceedings are ongoing. Bankman-Fried informed the jury that he wouldn’t give up the opportunity to contest the extradition request and hinted that he might endeavor to remain in the Bahamas.

FTX’s CEO is suspected of hosting parties with drugs

While serving as the CEO of FTX, Bankman-Fried allegedly hosted parties with drugs and alcohol for employees. The disgraced CEO, however, argued:

“I had my first sip of alcohol after my 21st birthday, and I had maybe half a glass of alcohol a year, roughly speaking. There were no wild parties here. When we had parties, we would play board games.”

Sam Bankman-Fried, former FTX CEO

Dr. George K Lerner, FTX’s psychiatrist, and in-house coach said that while some FTX staff took prescription medication for A.D.H.D., the company’s rate of A.D.H.D. was in connection with several colossal tech organizations.

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Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.