- Leaked documents reveal Bankman-Fried’s desperate attempts to salvage FTX’s reputation
- Prosecutors push for a harsh sentence for SBF of 40 to 50 years and an $11 billion judgement
In a startling glimpse into the mind of a disgraced CEO, leaked documents reveal a litany of ill-conceived ideas ranging from the vague to the downright desperate.
In recent court filings, U.S. prosecutors have disclosed new documents shedding light on Sam “SBF” Bankman-Fried’s strategies to reshape his public image following the 2022 collapse of FTX.
From aligning himself with conservative figures like Tucker Carlson to engaging in radical honesty on Twitter, Bankman-Fried’s brainstorming efforts underscore the depth of his desperation as FTX collapsed under the weight of its own misdeeds.
Attached to the government’s sentencing memorandum filed on March 15, a Google document reveals Bankman-Fried’s compilation of 19 “random probably bad ideas.” These were aimed at altering the social media narrative surrounding the crypto exchange’s dramatic downfall.
“His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people’s money’
Prosecutors, who paint a damning picture of Bankman-Fried’s crimes, are pushing for a harsh sentence of 40 to 50 years, along with a staggering $11 billion judgment.
They argue that his attempts to recast his crimes as mere mistakes or misunderstandings only serve to underscore his continued propensity for deception.
Lawyers representing the former billionaire argued before US District Judge Lewis Kaplan that a sentence ranging from five-and-a-quarter to six-and-a-half years would be fitting. They emphasized that most of FTX’s clients would recoup their funds and asserted that Bankman-Fried did not have intent to commit theft.
The prosecution’s proposed recommendation was detailed in a submission to the U.S. District Court in Manhattan. Mr. Bankman-Fried’s sentencing is slated for March 28, at which point Judge Lewis A. Kaplan will determine his sentence. The potential maximum penalty he faces is 110 years.
Meanwhile, the crypto community remains divided over what constitutes a fair punishment for Bankman-Fried. While some advocate for leniency, citing his contributions to the industry, others argue that anything less than a severe penalty would undermine trust in the system.
