Disgraced FTX founder Sam Bankman-Fried recently referred to himself as "one of the most hated people in the world" in unpublished documents obtained by the New York Times. In the documents, SBF expressed his financial difficulties and the struggles he’s been facing since his arrest towards late last year.
"I'm broke and wearing an ankle monitor and one of the most hated people in the world", he wrote in a Twitter (X) thread draft.
Despite his circumstances, Bankman-Fried maintained: "The truth is that I did what I thought was right"’. This echoes similar sentiments he expressed during a series of media interviews following the collapse of FTX, his cryptocurrency trading platform.
The documents, totaling 250 pages, were shared with the NYT by cryptocurrency influencer Tiffany Fong. They consist of a combination of photographs, references to songs from artists such as Katy Perry and Rihanna, as well as Bankman-Fried's attempts to assign blame for FTXs liquidity shortage that ultimately led to its downfall.
Bankman-Fried attributed the liquidity crisis to former Alameda hedge fund co-CEOs Caroline Ellison and Sam Trabucco. He alleges that Trabucco gradually distanced himself from the business as FTX’s problems started compounding, while Ellison, whom Bankman-Fried had previously dated, struggled to manage the hedge fund effectively.
"She continually avoided talking about risk management — dodging my suggestions — until it was too late," he lamented in the documents, while acknowledging that their personal history might have complicated their professional interactions.
He also stated that if Alameda Hedge Fund had properly hedged its positions, it could have remained solvent and in turn prevented the collapse of FTX.
Bankman-Fried’s legal troubles are far from over. He is scheduled to stand trial in October on charges including securities fraud and money laundering. In August, his bail was revoked over alleged witness tampering, and he is currently detained in a Brooklyn prison known for its challenging conditions.
