“FTX creditors,” appealed Sunil Kavuri on Twitter days after the ongoing trial of Sam Bankman-Fried started, adding: “never forget all the CT influencers that fawned over SBF, posted their FTX ref links, posted their fake screenshot P&Ls on FTX and never talked about FTX bankruptcy/creditors again.”
Kavuri lost about $2.1 million to FTX and has now become one of the vocal champions of FTX creditors. He describes himself as an FTX creditor activist for his newfound role and is now making rounds of media outlets to share his thoughts on the trial.
— Sunil (FTX Creditor Champion) (@sunil_trades) October 8, 2023
“Sam Bankman-Fried has literally destroyed so many people’s lives,” said Kavuri, who is now receiving dozens of queries every day from fellow FTX creditors, told BBC. “One person in Turkey was left with only $600 (£490) in their bank account after losing everything, and one in Korea was hospitalized with panic attacks.”
Was a pleasure to join @AJEnglish today to provide my thoughts as the SBF trial commences pic.twitter.com/E1rsOiOaY7
— Sunil (FTX Creditor Champion) (@sunil_trades) October 3, 2023
A High-Profile Trial
The criminal trial of SBF started last week. The infamous figure, who founded and headed the crypto exchange FTX and was once seen as the ‘messiah’ of the industry, attended the court with a new haircut and in a suit and tie, unusual from his signature shorts and t-shirt look.
After opening statements, two people, a former FTX customer and a close friend of Bankman-Fried’s since college, testified in court today.https://t.co/5u3D9OJu9g
— Laura Shin (@laurashin) October 5, 2023
The trial is receiving significant media attention, from the crypto-specific ones and also mainstream finance. As the 12-member jury heard the opening arguments on Wednesday, the investors are keen on knowing the decision, as they are waiting for the settlement with the bankruptcy administration, which is unrelated to the trial.
The defense lawyers argued that SBF is a math nerd who overlooked risk management but did not steal from customers. However, prosecutors said the entire FTX empire was “built on lies.”
The Court Room Strategy
Some vocal legal minds on social media are also heavily coitizing SBF and the arguments of the defense. John Reed Stark, the President, John Reed Stark Consulting LLC and a former SEC employee, wrote: “SBF’s “Alameda was a market-maker” defense is absurd. Calling Alameda a…
