SBF's parents claim son is innocent, say no customer funds were lost

The parents of FTX founder Sam Bankman-Fried (SBF) strongly asserted their son's innocence in an interview with CNN. They argued that since customers are being repaid their principal plus 18% to 43% in interest through the bankruptcy trust, no funds were actually lost. His parents claimed the money was always there and that FTX was a profitable company with billions of dollars in surplus assets. They also defended the transfer of customer funds to its affiliate, Alameda, as routine borrowing. They characterized the prosecution as a political attack by the Trump administration aimed at destroying cryptocurrency, emphasizing that their son would be a great asset to the economy if released. While they are currently pressuring President Donald Trump for a pardon, Trump has reportedly excluded SBF from his list of potential candidates for clemency.