Sam Bankman-Fried Says Handing FTX to CEO John Ray Was ‘Biggest Mistake' in Prison Interview

**Sam Bankman-Fried Blames FTX Handover Decision in Prison Interview as Crypto Market Watches**

Former FTX CEO Sam Bankman-Fried revealed in exclusive prison interviews that transferring control of the collapsed cryptocurrency exchange to CEO John Ray III was his "single biggest mistake by far." The disgraced crypto mogul claims he signed over FTX operations at 4:24 AM on November 11, 2022, under intense pressure from Sullivan & Cromwell legal advisers and company consultants.

This revelation adds new complexity to the FTX bankruptcy proceedings, which have impacted billions in cryptocurrency assets and shaken investor confidence across Bitcoin, Ethereum, and broader DeFi markets. Bankman-Fried's comments suggest potential disputes over the exchange's restructuring process as creditors await asset recovery.

The FTX collapse continues influencing cryptocurrency regulation discussions and market sentiment, with investors closely monitoring bankruptcy developments. As the crypto industry seeks stability following multiple exchange failures, Bankman-Fried's prison statements highlight ongoing tensions between former management and current leadership overseeing the complex unwinding of what was once a leading digital asset trading platform.