Bankman-Fried Memo Reveals His Cunning During FTX Crisis

Key Points:

• The DOJ recommends a 40 to 50-year prison term for the FTX founder based on a memo revealing plans to deceive the public post-FTX collapse.
• Bankman-Fried memo outlines strategies to deflect blame onto others, including appearing on media platforms like Tucker Carlson’s show.

According to Fortune, the U.S. Department of Justice has recommended a significant prison term for Sam Bankman-Fried (SBF), the founder of FTX, in the range of 40 to 50 years.

Read more: FTX Collapse Connects To CFTC vs. Binance Event And Its Consequences

Bankman-Fried Memo Unveils His Strategy to Shift Blame and Craft Redemption Narrative

This recommendation came to light following the revelation of a secret memo written by SBF himself after the collapse of FTX, detailing plans to deceive the public once more.

In the Bankman-Fried memo, he suggests appearing on Tucker Carlson’s show, misspelling the host’s name as “Tucker Carlsen,” and advocating for a Republican stance against the “woke agenda.” Prior to this, SBF had affiliations with the Democratic Party, with his mother being a major fundraiser for the party.

The Bankman-Fried memo not only outlines strategies to deflect blame for FTX‘s collapse onto others, including his lawyers and ex-girlfriend, but also plans to craft a redemption narrative through media appearances with figures like author Michael Lewis and Bloomberg columnist Matt Levine.

Prosecutors and Defense Clash Over Sentencing for Former Crypto Mogul

The Justice Department highlights SBF’s pattern of manipulation, noting his motivation to spin a redemption narrative and deceive others into investing based on false hope. While the federal probation department suggested a 100-year sentence, prosecutors argued against a life sentence due to SBF’s relative youth.

However, SBF’s defense team advocated for a much lighter sentence of no more than six and a half years. Just 18 months ago, Bankman-Fried was at the helm of FTX, a $40 billion cryptocurrency empire, before its sudden collapse brought him under legal scrutiny.