The current CEO of FTX, John Ray, has disputed the former CEO Sam Bank Fried’s assertion that there was “zero” harm to customers during the platform’s collapse in 2022, labeling the claim as “reckless” and “false.”
Ray’s criticism follows Bankman-Fried’s conviction in November for embezzling $8 billion from FTX customers.
John Ray Challenges SBF’s Defense Strategy
The former CEO’s defense strategy has relied heavily on the notion that since there might be a chance of customer reimbursement through bankruptcy proceedings, his actions should not be considered theft.
“I can assure the Court that each of these statements is categorically, callously, and demonstrably false,” Ray wrote in a Wednesday filing. “Customers will never be in the same position they would have been had they not crossed paths with Mr. Bankman-Fried and his so-called brand of altruism.”
He also stated that the recovery of funds for FTX customers is not a testament to SBF’s innocence b
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