Sam Bankman-Fried started a Substack newsletter on Thursday, while under house arrest, to detail the collapse of FTX.
On Thursday, the former CEO of bankrupt crypto exchange FTX launched a Substack newsletter, while on house arrest that details his version of events around FTX international’s insolvency, an overview of what happened at FTX, including the crash in November, other things. In the newsletter, Bankman-Fried also offered his own defense. “I didn’t steal funds,” he wrote. “And I certainly didn’t stash billions away.
Everything Bankman-Fried says whether it’s on his Substack or Twitter, is admissible in the criminal case against him, said Mariotti. The government can pick and choose what evidence to bring against him, but Bankman-Fried cannot do the same thing. Mariotti said Bankman-Fried’s lawyers likely told him to stay silent, adding that locking himself into a story isn’t a good idea because he doesn’t know what the government’s case is going to look like. And even if every word is true, accurate, and not misleading, he is telegraphing to the government his views are on a variety of things.
Even though legal experts say Bankman-Fried’s Substack is a bad idea, he still has the right to have one. In the U.S., the right to remain silent is designed to protect a person undergoing a trial or police questioning, which may help them avoid making self-incriminating comments.
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