Sam Bankman-Fried Wrote That Binance Leaked Balance Sheet

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Last Updated on October 12, 2023 by Bitfinsider

Evidence produced during Sam Bankman-Fried’s prosecution showed that he blamed Binance for releasing a balance sheet for Alameda Research to the media source CoinDesk – a critical episode in the downfall of FTX and his crypto empire.

Caroline Ellison, a former Alameda CEO, said on Wednesday that Bankman-Fried had written a paper dated November 6, 2022, describing potential investors he and others planned to approach for a bailout. Bankman-Fried claimed in the document that Binance, the world’s largest cryptocurrency exchange, has been “engaging in a PR campaign against us.”

“They leaked a balance sheet; blogged about it; fed it to Coindesk; then announced very publicly that they were selling $500m of FTT in response to it, while telling customers to be wary of FTX,” according to the report.

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