Ex-FTX CEO Denies Involvement in Alameda Funds, Plea Deal Unlikely

• Sam Bankman-Fried, the former CEO of FTX, commented on the recent movement of Alameda-related funds, denying his involvement and offering to help with the investigation.
• Bankman-Fried faces criminal charges and is likely to be offered a plea deal similar to his associates.
• His next hearing is set for Jan. 3 and the Wall Street Journal suggests that he will plead not guilty.

Sam Bankman-Fried, the former CEO of FTX, recently returned to Twitter after weeks of inactivity coinciding with his arrest. He commented on a recent event that saw Alameda-related cryptocurrency addresses move at least $1.7 million of assets, which were transferred to crypto mixers in several batches on Dec. 28. Bankman-Fried denied that he was involved in the movement of funds, stating: “None of these are me. I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore.” However, he added that it was likely that “various legit legs of FTX” can access those funds and said that he hopes that those entities were behind the movement of funds. He also offered to help advise regulators in the investigation, likely motivated by the criminal charges he is facing.

Bankman-Fried could possibly attempt to arrange a plea deal similar to those obtained by his associates, Caroline Ellison and Gary Wang, in order to reduce his sentence. However, one former federal prosecutor has suggested that Bankman-Fried is unlikely to be given a favorable deal due to his lead role in FTX’s alleged fraud. His next hearing is set for Jan. 3 and the Wall Street Journal suggested today that, based on its sources, Bankman-Fried will plead not guilty.

Overall, Bankman-Fried has denied any involvement in the movement of Alameda-related funds and has offered to help advise regulators in the investigation. His next hearing is set for Jan. 3 and the Wall Street Journal suggests that he will plead not guilty.