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

Sam Bankman-Fried, the former FTX CEO, has recently resurfaced on social media with a lengthy self-defense document claiming that FTX was never insolvent. He argues that the responsibilities for the collapse of the company lie with bankruptcy lawyers rather than with the business itself, suggesting that FTX could have repaid its customers in full if not for legal mismanagement. The document features tables showing potential 'mark-to-market' gains on the assets FTX once held, which he claims could value the exchange at over $100 billion today, contradicting earlier financial filings. This assertion aims to reshape his public image and garner political sympathy as he seeks a presidential pardon, although experts give him only about a 10% chance of receiving it. Bankman-Fried's actions seem part of a broader strategy to reframe his narrative following his conviction, including enlisting political allies and arranging interviews to increase his visibility.

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