Sam Bankman-Fried ‘Haunted’ by FTX Mistakes After 25-Year Prison Sentence: Report

Sam Bankman-Fried, the disgraced co-founder and former CEO of FTX, is reportedly haunted by the mistakes he made that led to his 25-year prison sentence. After initially showing no remorse for his role in the collapse of FTX and the resulting customer losses of nearly $8 billion, Bankman-Fried expressed regret over the Easter weekend. In a series of emails, he stated that he was remorseful for his actions but maintained that he always acted in good faith and never believed what he was doing was illegal. He acknowledged the despair and sense of betrayal from FTX’s former customers and emphasized that they deserved to be paid in full. Bankman-Fried also insisted that the company had enough assets to repay its debts but expressed frustration at the delays in doing so. During his trial, Bankman-Fried argued that he made a series of bad decisions as a manager rather than being a criminal, and his defense claimed a lack of criminal intent. However, FTX’s new CEO, John J. Ray III, disputed these claims, stating that the remorse was nonexistent and alleging that Bankman-Fried had stolen the missing bitcoins. Although Ray has not yet recovered enough assets to fully compensate creditors, the current bull run in the crypto market has helped alleviate some of the damage. Bankman-Fried expressed a deep desire to make amends but admitted that it was frustrating to be limited in what he could do from prison. He has decided to appeal his conviction, citing concerns about the law firm representing FTX’s new ownership and their influence on the trial process.