- Sam Bankman-Fried SBF, the former CEO of FTX has denied many accusations made against him.
- Former competitors say he is to blame for their own failures.
- He says he did not go after Terra or Tether’s stablecoins as they were under his control.
SBF former CEO of FTX has refuted many claims since he Left
Sam Bankman-Fried SBF the former CEO of FTX, has denied a lot of the accusations made against him since he left his job, but today he made it clear that he did not go after Terra or Tether’s stablecoins. Reported by Yahoo Finance
“I made a lot of big mistakes this year. But this wasn’t one of them,” Bankman-Fried wrote on Twitter early Friday morning. “There’s no evidence, because it didn’t happen. Please, please focus on your own house.” According the SBF.
I made a lot of big mistakes this year.
But this wasn't one of them. There's no evidence, because it didn't happen. Please, please, focus on your own house. https://t.co/tlcQu9zFdf
— SBF (@SBF_FTX) December 9, 2022
It was a response to a tweet from Su Zhu co-founder of the now-defunct crypto hedge fund Three Arrows Capital, who said he’d been asked why he and TerraForm Labs co-founder Do Kwon have become so vocal since FTX’s collapse at the beginning of November.
When it was found out that the firm’s sister company, Alameda Research, had billions of worthless FTX Token (FTT) on its balance sheet, the company started to lose money. There was a last-ditch effort to get Binance to buy the cryptocurrency exchange, but it failed when Binance said it couldn’t help FTX. Two days after that, FTX filed for bankruptcy.
Now, former competitors like Three Arrows Capital, which is also known as 3AC, are saying that the SBF founder of FTX was to blame for their own failures.
“Since my July interview with Bloomberg, I have been sure that we were being chased. “Read it again,” Zhu wrote. “It’s just the truth, but at the time, my own advisors didn’t want me to say it because they thought it would be “bad optics” and be seen as “deflecting.”
He has always said that he thought other big players in the crypto market were “hunting” the firm’s TerraUSD position, which means they were trying to sell it. In May, the algorithmic stablecoin known as UST lost its one-to-one link with the U.S. dollar. When it went to zero, $40 billion worth of value was lost.
Zhu didn’t say in July that he thought Bankman-Fried SBF was to blame for Terra’s collapse, which cost 3AC $200 million on UST, but he’s said it many times since FTX filed for bankruptcy.
Zhu isn’t the only one who thinks there are reasons to think Bankman-Fried may have manipulated markets.