FTX CEO Accuses Sam Bankman-Fried of Lying to Evade Jail

FTX's new CEO, John Ray, has criticized his predecessor, Sam Bankman-Fried, for making false claims in an attempt to reduce his potential 40-to-50-year prison sentence. Bankman-Fried's assertions that the harm to FTX customers was "zero" were refuted by Ray, who highlighted the billions of dollars stolen and mishandled funds. The collapse of FTX led to a drawn-out trial, with negotiations to revive the exchange facing challenges. Ray emphasized that Bankman-Fried remains culpable and that customers are seeking compensation in the form of their coins, which have surged in value. With sentencing approaching, it's unlikely that Bankman-Fried will receive a lenient ruling.