Sam Bankman-Fried speaks from prison, maintains ‘innocence’

Sam Bankman-Fried, the jailed FTX founder, proclaimed his innocence during a Feb. 18 interview at Manhattan Detention Center, conducted by A.R. Hoffman of The New York Sun.

During three 15-minute talks, he insisted FTX was solvent in November 2022, saying, “There were enough assets to pay all customers back in full.” He blamed Sullivan & Cromwell for the collapse, adding, “The biggest mistake I made was backing down in November 2022.” 

Serving a 25-year fraud sentence, he accused Judge Kaplan of bias, stating, “Kaplan allowed the prosecution to tell the jury that everyone had lost all their money, but then disallowed the defense from addressing that,” and seeks a Trump pardon.

Context from FTX’s fallout 

Convicted in 2023 after FTX and Alameda Research lost billions, Bankman-Fried spoke to The New York Sun about shifting politics—from Biden in 2020 to Republicans by 2022—saying, “The administration was incredibly destructive” on crypto policy. He tied his case to DOJ turmoil, noting Danielle Sassoon’s exit, and reflected on losing billions he planned for altruism.

According to a crypto.news report, FTX’s bankruptcy estate has reached $15 billion, supporting his claim of solvency. However, repayments to creditors remain delayed due to ongoing legal battles, including a $1.8 billion lawsuit from Binance. Meanwhile, his parents’ Trump pardon plea aligns with his allegations of bias following his 2023 sentencing.

When asked by Hoffman what he’d like to do if free, Bankman-Fried said:

“It’s hard to say. Right now, I have 25 years ahead of me, and I try not to think too much about the future because it’s out of my control. If my appeal is successful, I’d think hard about how I could be productive again.”