SBF revealed in prison: handing FTX over to the new CEO John Ray was the "biggest mistake".

GateNews

2025-10-05 10:32:35

PANews, October 5 - According to cryptonews, FTX founder Sam Bankman-Fried (SBF) stated in an exclusive interview while in prison that his “biggest mistake” was handing over control of FTX to the new CEO John Ray III. SBF insists that he signed the control transfer documents under immense pressure, claiming that the company was never bankrupt and that he never deceived anyone. He accused John Ray III and his legal advisory team (Sullivan & Cromwell) of misconduct during the bankruptcy process, resulting in enormous legal fees, with total bankruptcy costs expected to exceed $1 billion.

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