Newspaper: FTX founder Bankman-Fried innocent

Sam Bankman-Fried, the founder of bankrupt crypto exchange FTX, does not want to plead guilty if he has to appear in court for the first time next week. The American newspaper Wall Street Journal writes based on insiders. Bankman-Fried is suspected of fraud among others.

He was arrested in the Bahamas after FTX went bankrupt and later surrendered to the United States. In its home country, Bankman-Fried has been accused of defrauding billions of dollars in customer deposits. They transferred to FTX-affiliated Alameda Research Investment Fund, which invested money in all kinds of companies.

Bankman-Fried was released on bail in the United States. He paid $250 million for it. The former billionaire was under house arrest with his parents in California. He is due to appear in a New York court on Tuesday.

Meanwhile, US prosecutors are investigating the activities of several crypto wallets owned by Bankman-Fried. Over the past few days, more than $1 million has been moved back and forth through those wallets. Bankman-Fried said on Twitter that she had nothing to do with the move.

The Bahamas, meanwhile, has seized assets owned by FTX. They were valued at $3.5 billion at the time of bankruptcy. The Caribbean state wants to transfer those digital assets to its customers and creditors, officials said.