In keeping with ZachXBT, the previous CEO of beleaguered crypto alternate FTX hid a $40 million switch he allegedly used to “bribe Chinese language authorities” from his public revelations.
Sam Bankman-Fried’s legal professionals appeared in a federal appeals courtroom in New York on Tuesday to attraction the ex-FTX head’s 2023 conviction on seven legal fees, together with fraud and conspiracy tied to the collapse of his crypto empire.
Legal professional Alexandra Shapiro, representing the 33-year-old former crypto government, argued earlier than a three-judge panel on the 2nd Circuit US Courtroom of Appeals that Bankman-Fried’s trial was “essentially unfair.” Shapiro claimed that presiding choose Lewis Kaplan, “repeatedly put a thumb on the dimensions to assist the federal government and thwart the protection.”
Late Thursday, the handler of Bankman-Fried’s official X account printed a press release quoting the disgraced crypto founder’s response to paraphrased feedback made by FTX’s present CEO, John J. Ray III.
“I’m not saying FTX’s solvency or the Debtors’ mismanagement are the explanations I’m harmless (though it’s a bit of the story!). However the Debtors are nonetheless withholding funds—see, e.g., Mr. Ji’s combat for Chinese language collectors, and this wants extra consideration,” Bankman-Fried was quoted saying.
[SBF says:]
I do not fairly agree with each level—however, yeah, that is mainly what occurred.
I am not saying FTX’s solvency or the Debtors’ mismanagement are the explanations I am harmless (though it is a piece of the story!). However the Debtors are nonetheless withholding funds—see, e.g.,… https://t.co/MGcqjebNpz
— SBF (@SBF_FTX) November 6, 2025
Responding to the ex-FTX head’s commentary, blockchain safety sleuth ZachXBT replied: “Riddle me in regards to the $40M switch to Chinese language authorities you hid from the general public?” He hooked up an X put up from 2023 that linked certainly one of FTX’s wallets to a $40 million transaction purportedly used to bribe Chinese language officers.
ZachXBT queries SBF on $40 million bribe allegations
The 2D investigator’s put up referenced findings of crypto dealer and on-chain analyst DefiSquared, who stated he had traced suspicious transfers involving FTX-linked wallets.
“Was trying into the Multichain exploiter deal with tonight and following the cash path,” he wrote in August 2023. “The place did it lead me? To the $40 million bribe that SBF is accused of bribing the Chinese language authorities with.”
Defisquared’s X thread famous that the tagged Multichain exploiter deal with, 0x622e5, had despatched over 1,000 WBTC to a brand new pockets, 0x3c74b, which later transformed the funds to USDT by means of Gate.io.
Okay, this is some *wild* onchain investigation. Was trying into the Multichain exploiter deal with tonight and following the cash path. The place did it lead me? To the $40 million bribe that SBF is accused of bribing the Chinese language authorities with 🤯
Test it out:
To start out, the… pic.twitter.com/SebSnxUWmE
— DeFi^2 (@DefiSquared) August 1, 2023
The pockets reportedly used deposit deal with 0x96345 to launder the funds, receiving inflows from a number of addresses together with 0x24f42, which in November 2021 had acquired a $40 million USDT switch from FTX.
“Bizarre transaction, proper? Properly, not while you do not forget that SBF is at the moment being accused of bribing the Chinese language Authorities precisely $40 million ‘in or round November 2021.’”
Throughout Bankman-Fried’s 2023 trial, US federal prosecutors alleged that the FTX founder and his associates organized the multimillion-dollar fee to unfreeze accounts belonging to Alameda Analysis on Chinese language exchanges. The accounts reportedly contained round $1 billion price of crypto that had been locked on account of an ongoing investigation in China.
In keeping with the indictment, Bankman-Fried and his group “thought of and tried quite a few strategies to unfreeze the accounts,” together with authorized appeals and private outreach. When these efforts failed, he “agreed to and directed a multimillion-dollar bribe” to Chinese language officers to regain entry to the funds.
Prosecutors accused Bankman-Fried of siphoning billions of {dollars} in buyer funds from FTX to prop up Alameda Analysis. A Manhattan jury discovered him responsible after lower than 5 hours of deliberation, which made protection legal professionals adamant that the choice was hurried. Regardless of testifying in his personal protection, Bankman-Fried was convicted on all seven counts.
SBF attorneys ask for a second probability in appeals courtroom
Bankman-Fried’s legal professionals insist the trial’s environment and Kaplan’s conduct disadvantaged him of due course of. They contend that prosecutors offered oversimplified proof that unfairly made their shopper seem “deliberately deceitful.”
Shapiro, his lead legal professional, stated in courtroom that the federal government’s case “relied closely on emotion moderately than proof,” propounding that Bankman-Fried’s choices had been “the product of chaos, not corruption.”
In keeping with the attraction temporary, Bankman-Fried’s group is asking for a brand new trial earlier than a distinct choose as a result of Kaplan’s conduct throughout proceedings prejudiced the jury. The protection cited situations the place Kaplan “ridiculed Bankman-Fried and referred to the previous FTX government’s declare that he not ran Alameda Analysis after stepping down as CEO as “a joke.”
