Sam Bankman-Fried Made Reasonable Business Decisions, Lawyers Claim
WiredMAY 2023
There was no fraud committed here. Anyone investing with FTX knew the risks involved and was informed about their money being shared with Alameda. All decisions made by Bankman-Fried were made above board, and had it not been for a run on FTX it would still be rolling along.
Whether the defense tries to paint Bankman-Fried as a good-faith actor or a naive math nerd, there are numerous technical reasons not to believe the story Bankman-Fried’s lawyers are telling. What it comes down to is that Bankman-Fried was living in a $30M penthouse while he was betting big with clients’ money, and now their money is gone. This doesn't look good for the former crypto czar.