‘King of crypto’ continues to blame ex for FTX implosion

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Last Updated on 6 November 2023 by CryptoTips.eu

Sam Bankman-Fried, the fallen billionaire now in a cell with an ankle bracelet, counts down together with the rest of us to the crypto trial of the century. His parents, both well-known professors at Stanford University, are also being accused by the American media. Meanwhile, Sam continues to blame his ex-girlfriend, Caroline Ellison, for the FTX crash and the loss of some $20 billion.

According to the BBC, Sam is the uncrowned ‘king of crypto’.

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Risk management

It is striking that documents have now come to light again about Caroline Ellison, the ex-girlfriend of Sam Bankman-Fried (or SBF). When he leaked her diary to the New York Times through his team of lawyers a few months ago, his house arrest was suddenly turned into a prison stay as a judge found that he was trying to influence public opinion before the trial began.

However, in several documents that he leaked to influencers in the past week, SBF again blamed Caroline Ellison for the demise of FTX, the third largest crypto platform in the world until last year.

He described her as being ill-equipped for the job he gave her as CEO of Alameda and claimed that she had cried during a meeting with him in the month before the crash and had refused to implement strategies that would have protected his companies (FTX and Alameda) against a market crash.

“She continually avoided talking about risk management — dodging my suggestions — until it was too late,” he wrote in a document titled “Alameda’s Failure to Hedge.”

“Every time that I reached out with suggestions, it just made her feel worse. I’m sure that being exes didn’t help.”

Parents

SBF’s parents, Joe Bankman and Barbara Fried, both professors at Stanford University, are also likely to be sued. According to John Ray III, the man who’s managing the bankruptcy and recover money for the creditors, they received a ‘gift’ of $10 million via FTX as well as a house worth $16 million in the Bahamas.

According to the latest indictment, Joe and Barbara enriched themselves via their son’s business.

atdigit / Depositphotos.com

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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