Sam Bankman-Fried's Frequent Commenting Draws Icy Response From FTX's Restructuring Chief
John Ray's statement on Twitter stressed that SBF no longer speaks on behalf of the exchange and affiliated companies.
Former FTX CEO Sam Bankman-Fried continues to tweet and comment frequently about what led to FTX's collapse, but his replacement as CEO is having none of it.
On Wednesday, the official Twitter account of bankruptc crypto exchange FTX tweeted out a statement from John Ray, chief restructuring officer and the CEO who replaced founder Sam Bankman-Fried after his resignation on Nov. 11.
“Mr. Bankman-Fried has no ongoing role at @FTX_Official, FTX US, or Alameda Research Ltd. and does not speak on their behalf,” Ray wrote.
Legal experts say Bankman-Fried's tweets are likely to be a liability in court cases that may result from FTX's collapse. "My advice is shut the f**k up or I quit," former federal prosecutor Ken White told CoinDesk Monday when asked what advice he would give Bankman-Fried with regards to his Twitter account. In recent days, Bankman-Fried has also DM'ed on Twitter with a reporter from Vox and given an interview to the New York Times.
FTX's collapse started with a CoinDesk report that led to insolvency concerns, a withdrawn buyout offer from Binance, a withdrawal pause and Chapter 11 bankruptcy protection. Through it all, Bankman-Fried has continued to tweet and share his thoughts.
Read more: Sam Bankman-Fried Can't Stay Off of Twitter
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.