Posted 3/20/2024, 10:11:00 PM
FTX Chief Decries Bankman-Fried Claim of No Victim Harm As Demonstrably False
- FTX CEO John Ray says Bankman-Fried's claim that victims will not suffer is "categorically, callously, and demonstrably false"
- Ray says team has worked extensively to recover lost funds, but customers will never be fully made whole
- Many victims unhappy claims valued at lower crypto prices from November 2022
- Irrecoverable losses include $150M in alleged bribes and nearly 100k missing bitcoins
- Ray FTX run with "hubris, arrogance" and no respect for the law despite Bankman-Fried's privilege