FTX Founder SBF Tells the Story of Collapse After Payments, Asks for Pardon from Trump! - Coin Bulletin

**Sam Bankman-Fried criticized the Biden administration, requesting pardon from President Trump and stating that FTX never went bankrupt, the issue was a liquidity crisis.

Sam Bankman-Fried, the founder of the sinking cryptocurrency exchange FTX, said in his first interview from the Metropolitan Detention Center in New York that the Biden administration has politicized the judicial system in an 'extremely destructive' manner and asked for a pardon from President Trump.

Bankman-Fried, stating that FTX was always liquid, pointed out that the law firm Sullivan & Cromwell made mistakes in the bankruptcy process and emphasized that FTX never actually went bankrupt, attributing the issue to a liquidity crisis.

"FTX Did Not Go Bankrupt, Liquidity Crisis Occurred"

Sam Bankman-Fried emphasized that FTX did not go bankrupt, stating that the situation was a liquidity crisis and that this situation led to market panics. Bankman-Fried said, 'In November 2022, we had assets that could make all payments to customers in full and on time. However, due to the liquidity crisis, panic occurred in the markets and it became impossible to quickly convert the funds into cash.'

Bankman-Fried described the Biden administration's stance on crypto policies as “disappointing,” stating that the Republican Party is more reasonable. Bankman-Fried, who made the second-largest donation to the Biden campaign in 2020, now stated that he sees himself in a different political position rather than “center-left.”

Hope of Peace and Legal Process

Bankman-Fried, who always claims that FTX has the ability to pay, alleged that Sullivan & Cromwell mismanaged the bankruptcy process. He stated that customers have been waiting for their payments for two and a half years since the bankruptcy application in 2022. Bankman-Fried argued that FTX only conducts “credit lending and borrowing” transactions, and that this is not theft but a contractual function.

Bankman-Fried's request for pardon from Trump was not only for his own case but also a notable move for other names expecting pardon in the crypto world. Trump's previous pardon of Ross Ulbricht may have increased Bankman-Fried's hope for pardon.