Sam Bankman-Fried (SBF), the founder of bankrupt cryptocurrency exchange FTX, expressed regret for his fraudulent actions that led to his imprisonment in his first media interview after being detained. “It’s something I think about every day,” he said.
FTX’s collapse in November 2022 resulted in $8 billion in customer losses. The US prosecution accused SBF, who was the CEO of FTX at the time, of embezzling customer funds for political contributions, investments, and personal gain. Last autumn, SBF was convicted of seven counts of fraud, conspiracy, and money laundering. Ultimately, a US judge sentenced him to 25 years in prison last week.
In an exclusive email interview with ABC News over the weekend at the Metropolitan Detention Center in Brooklyn, SBF revealed that FTX’s bankruptcy was the result of several “wrong decisions” he made in 2022. He stated, “Of course, I regret it.”
During the sentencing last Thursday, US Judge Lewis Kaplan stated that SBF committed perjury in his testimony and “often hedged his words.” The judge also remarked that the defendant had never expressed remorse for committing serious crimes. However, SBF claimed during the interview that he did indeed have remorse, saying, “Of course I do.”
SBF still believes that FTX’s customers, both from November 2022 and now, should receive full compensation and expressed anguish over the waiting period. He also added that he felt the pain of his former colleagues and the charitable organizations he supported.
In a court filing submitted last year, SBF accused law firm Sullivan & Cromwell, representing FTX’s new ownership, of colluding with the prosecutors and claimed his right to access FTX documents shared with the law firm. As a result, SBF stated on Sunday that he did not receive a fair trial, saying, “I wasn’t given a fair shake.”
A spokesperson for Sullivan & Cromwell responded to ABC News on Monday, quoting the judge’s ruling, stating that SBF committed perjury on the witness stand and adopted a media strategy to blame lawyers and the bankruptcy process for investors’ losses instead of taking responsibility for his own crimes.
SBF also mentioned that his defense team plans to file an appeal later this year, citing that certain trial testimony “severely distorted what actually happened,” and his defense lawyers were “not allowed to present crucial evidence or subpoena important witnesses.” He did not provide specific details and explained that he did not want to influence the legal strategy of his defense team.
