📰 News flash: Current FTX CEO John Ray dismisses former CEO Sam Bank Fried's claim that there was no loss to customers in the platform's 2022 collapse, calling it "reckless" and "mistake".

🔍 Ray's reaction comes after Bankman-Fried was convicted in November for embezzling $8 billion from FTX customers.

👨‍⚖️ The former CEO's defense strategy relies on the idea that because there may be an opportunity to compensate customers through bankruptcy proceedings, his actions should not be considered theft.

💬 Ray wrote in a filing on Wednesday: "I assure the Court that each of these statements is completely, unintentionally and provably false. Clients will never be in a position where they would have if they hadn't met Mr. Bankman-Fried and his brand of benevolence."

📆 Ray's statement comes ahead of SBF's trial on March 28, where he faces the possibility of a long prison sentence.

🚩 Ray also refuted claims of full value restoration for FTX customers, pointing out that those who held Bitcoin in FTX at the time of the crash would have received a much lower value recovery, a 400% reduction , compared to current prices.

🔓 Ray also said that due to Alameda's secret borrowing under the direction of SBF, the account reports were inaccurate, because FTX debtors did not own the cryptocurrency that customers believed were held in their accounts. their account on the date of filing.