Sam Bankman-Fried Posts Lengthy 'FTX Was Never Insolvent' Document

Sam Bankman-Fried recently claimed that FTX was never actually insolvent, attributing the exchange's collapse to bankruptcy lawyers rather than the financial state of the company. In a lengthy social media post, he presented findings suggesting that FTX's assets could exceed $100 billion if not for the influence of legal counsel, contradicting previous financial reports that indicated otherwise. He argued that, if different actions had been taken, FTX could have fully repaid its customers. This document is part of Bankman-Fried's ongoing efforts to reshape his public image and gain sympathy, coinciding with his parents and legal team lobbying for a presidential pardon. While speculation exists about his chances of receiving clemency, insiders estimate it at around 10%. This situation continues to evolve amidst media appearances and various strategic moves to rehabilitate his reputation and narrative surrounding FTX's financial demise.

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