Did Sam Bankman-fried lose money when FTX collapsed?

Acting FTX CEO John J. Ray III slammed claims made by his predecessor Sam Bankman-Fried that customers of the exchange suffered “zero” harm and that no money was lost when it collapsed in November 2022. In a letter to US District Judge Lewis Kaplan, Ray branded Bankman-Fried’s claims as “categorically, callously, and demonstrably false.”

Why did Bankman-fried run FTX?

In a fiery letter to Judge Lewis Kaplan, who is due to pass sentence next week, John Ray said Bankman-Fried had run FTX “with hubris, arrogance, and a complete lack of respect for the basic norms of the law, which is all the more inexcusable given his privileged upbringing”.

When will FTX CEO John Ray III be sentenced?

He’s set to be sentenced on March 28. Magazine: Can you trust crypto exchanges after the collapse of FTX? FTX CEO John Ray III has written to Judge Kaplan arguing against a plea from SBF lawyers for a reduced sentence.