SBF’s X Account Claims FTX Was Never Insolvent

Sam Bankman-Fried’s X account shared a document asserting that FTX was never insolvent, claiming a liquidity crisis could have been resolved. The document, purportedly authored by Bankman-Fried, disputes the legal conclusion of bankruptcy resulting from misappropriating customer funds. Instead, it suggests FTX had assets of $25 billion, and that if external counsel had not intervened, the company could have avoided bankruptcy. Moreover, if FTX and its associated firm Alameda survived, the FTT token's value could be nearly $22 billion today, significantly contributing to the company's overall valuation of $136 billion from various investments. The statement reiterates previous defenses presented during Bankman-Fried's trial, emphasizing that mismanagement and not insolvency led to the company's downfall. Additionally, FTX is undergoing a recovery process, promising to deliver $1.6 billion to creditors as part of its restructuring efforts.

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