Leaked Writings Reveal Sam Bankman-Fried’s Struggles Post FTX Collapse

In recently leaked private writings obtained by the New York Times, Sam Bankman-Fried, the founder of FTX, expressed deep concern about being perceived as “one of the most hated people in the world” following the collapse of the cryptocurrency exchange.

The leaked writings provide insight into Bankman-Fried’s state of mind before and after the collapse of FTX, where a substantial amount of money seemingly vanished. 

In these writings, SBF is reluctant to take responsibility for the events, focusing instead on his tarnished public image and the impact on his reputation.

“I’m broke and wearing an ankle monitor and one of the most hated people in the world,” Bankman-Fried wrote, revealing his struggle with the aftermath of the collapse. 

This revelation is juxtaposed with the magnitude of the losses experienced by countless individuals who trusted the platform.

The leaked writings also shed light on SBF’s ethical beliefs, specifically his adherence to consequentialist philosophy. 

It’s apparent that his family, particularly his parents, influenced his approach to business and ethics. 

Joseph Bankman and Barbara Fried, Stanford Law School professors, seemingly supported SBF during his rise to fame and even in his current predicament.

Bankman and Fried’s influence on SBF’s ethical outlook is evident, as they supported pursuing profit to achieve a more significant impact through philanthropy. 

However, this philosophy has faced criticism, particularly regarding the FTX collapse and its repercussions.

Blaming Others and Avoiding Consequences

Interestingly, Bankman-Fried’s writings suggest a tendency to shift blame onto others, notably his ex-girlfriend and ex-employee, Caroline Ellison. 

He points to her alleged mismanagement and implicates her in a trade that supposedly contributed to the downfall of FTX and Alameda, failing to hedge the hedge fund effectively.

Moreover, SBF distances himself from accusations of misappropriating user funds, attributing these allegations to lawyers at Sullivan & Cromwell, the law firm overseeing FTX’s bankruptcy proceedings.

The apparent discrepancy in Bankman-Fried’s concern for consequences stands out from these writings. 

Before facing the consequences of the collapse, he seemingly displayed a lack of concern for the potential fallout of his actions. 

With the repercussions materializing and his intended goals seemingly out of reach, he remains unconcerned about the extensive damage caused.

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