PANews reported on October 5 that according to Mother Jones, FTX founder Sam Bankman-Fried (SBF) said in an exclusive interview in prison that his "biggest mistake" was handing over control of FTX to new CEO John Ray III. SBF insists he signed the transfer documents under immense pressure, claims the company never went bankrupt, and that he never defrauded anyone. He accuses John Ray III and his legal counsel (Sullivan & Cromwell) of misconduct in the bankruptcy process and incurring substantial legal fees, with total bankruptcy costs expected to exceed $1 billion.PANews reported on October 5 that according to Mother Jones, FTX founder Sam Bankman-Fried (SBF) said in an exclusive interview in prison that his "biggest mistake" was handing over control of FTX to new CEO John Ray III. SBF insists he signed the transfer documents under immense pressure, claims the company never went bankrupt, and that he never defrauded anyone. He accuses John Ray III and his legal counsel (Sullivan & Cromwell) of misconduct in the bankruptcy process and incurring substantial legal fees, with total bankruptcy costs expected to exceed $1 billion.
SBF reveals from prison: Handing FTX over to new CEO John Ray was the “biggest mistake”
2025/10/05 18:28
PANews reported on October 5 that according to Mother Jones, FTX founder Sam Bankman-Fried (SBF) said in an exclusive interview in prison that his "biggest mistake" was handing over control of FTX to new CEO John Ray III.
SBF insists he signed the transfer documents under immense pressure, claims the company never went bankrupt, and that he never defrauded anyone. He accuses John Ray III and his legal counsel (Sullivan & Cromwell) of misconduct in the bankruptcy process and incurring substantial legal fees, with total bankruptcy costs expected to exceed $1 billion.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights
You May Also Like
Ethereum Price Races Towards $5,000
The post Ethereum Price Races Towards $5,000 appeared on BitcoinEthereumNews.com. Crypto News The Ethereum price has climbed above $4,400 and is moving closer to the $5,000 mark, drawing fresh attention from traders and institutions. With DeFi, NFTs, gaming and tokenized assets driving steady activity, Ethereum remains the top smart contract platform. At the same time, whales are accumulating Layer Brett (LBRETT), an Ethereum Layer 2 presale token tipped for much higher upside in the next cycle. Ethereum’s latest rally Ethereum’s rise has tracked the broader rebound across crypto markets. Demand from decentralized finance, growing interest in tokenized assets and progress in scaling solutions have all added momentum. As the base layer for thousands of applications, Ethereum is viewed as a core asset by both retail traders and large institutions. Analysts suggest the Ethereum price could move into the $8,000–$10,000 range by 2026 if adoption continues at the current pace. One reason ETH has stayed resilient is the rise of Layer 2 networks. These solutions reduce congestion by handling transactions more efficiently. They cut costs for users, keep speeds high and still rely on Ethereum’s security. These upgrades have helped Ethereum remain the hub of on-chain activity even as demand keeps growing. Even so, ETH’s size works against it when it comes to massive multiples. With a market cap in the hundreds of billions, Ethereum is widely seen as a long-term anchor rather than a vehicle for life-changing gains. That’s why many traders are looking beyond ETH itself to tokens that can leverage its ecosystem but offer far more room to grow. Why whales are backing Layer Brett Layer Brett (LBRETT) is one of the projects benefiting from this search for higher upside. Built on Ethereum Layer 2, it blends meme coin energy with real scaling utility. Transactions settle quickly at minimal cost but unlike hype-only tokens, Brett is backed by…
Share
BitcoinEthereumNews2025/10/05 20:14
Share
Bitcoin Holders Shy Away from DeFi Despite Promising Potential
Survey reveals low BTCFi engagement among Bitcoin holders, with significant awareness gaps. Users show interest in DeFi benefits but prefer simple and trustworthy financial products. Continue Reading:Bitcoin Holders Shy Away from DeFi Despite Promising Potential The post Bitcoin Holders Shy Away from DeFi Despite Promising Potential appeared first on COINTURK NEWS.
Share
Coinstats2025/10/05 20:07
Share
BNB Chain Crushes Solana to Reclaim First Spot in Active Addresses
Solana's long streak ended as BNB Chain soared back to number 1 in active addresses amidst Aster frenzy.
Share
CryptoPotato2025/10/05 20:35
Share