Disgraced cryptocurrency boss says FTX customers could get their money back in statement published on Substack
Bankman-Fried said that millions of customers of FTX, his bankrupt exchange, could get their money back and that “very substantial recovery remains potentially available”.
“No funds were stolen,” Bankman-Fried claims in the post, offering a timeline of the exchange’s collapse that blames market crashes and FTX’s biggest rival, Binance, for the implosion. In the post Bankman-Fried argues Alameda lost money because it was unprepared for the collapse in the cryptocurrency markets and rising interest rates. “And so Alameda’s assets get hit, again and again and again,” he wrote. “Alameda’s contagion spread to FTX and other places.”
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