SBF’s X Account Says FTX Was Never Insolvent—And FTT Would be $32 Billion Today

Sam Bankman-Fried's X account recently shared a document claiming that FTX was never insolvent. This document, purportedly authored by Bankman-Fried and his team, suggests that the exchange faced a liquidity crisis rather than a scheme of fraud and misappropriation of $10 billion in customer funds, which led to its bankruptcy. It posits that FTX had $25 billion in assets and a significant FTX equity value at the time of its collapse, contrasting this with $13 billion in liabilities. The narrative implies that improper asset sales by FTX lawyers contributed to the downfall, positing that had those sales not occurred, FTX and its affiliate Alameda would be worth an estimated $136 billion today, including stakes in high-value companies like Anthropic and Robinhood. Furthermore, it states that if FTX and Alameda had survived, their FTT token would be valued at approximately $22 billion today.

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