FTX creditors paint stark picture of despair as Sam Bankman-Fried’s sentencing looms | Headlines | News | CoinMarketCap
03/19/2024 16:19
The U.S. Department of Justice on Monday filed dozens of victim impact statements in Sam Bankman-Fried’s criminal case ahead of the failed FTX …
The U.S. Department of Justice on Monday filed dozens of victim impact statements in Sam Bankman-Fried’s criminal case ahead of the failed FTX exchange founder’s planned sentencing next week.
The letters, dated last week, were written by FTX creditors from around the world to express their frustration and the impact of FTX’s bankruptcy on their lives.
“The sudden collapse of the company has shattered my sense of financial security and stability,” one letter wrote. “Furthermore, the emotional toll of this ordeal has been overwhelming.”
Another victim statement said: “In 2022, at the age of 24, I lost my entire life savings, which amounted to over $20,000. I had entrusted my savings to FTX.com not to buy or sell crypto, but to take advantage of the interest-bearing savings account …