In an exclusive prison interview, Sam Bankman-Fried expresses regret over transferring control of FTX to CEO John Ray III, criticizing the bankruptcy process and its associated costs.
Sam Bankman-Fried, in a prison interview, revealed that his greatest mistake was handing over control of FTX to CEO John Ray III, claiming this hindered efforts to rescue the company. He asserted that FTX was never bankrupt and accused John Ray III and Sullivan & Cromwell of misconduct, which led to skyrocketing bankruptcy costs, now projected to exceed $1 billion.