Sam Bankman-Fried’s Defense Claims FTX Was Never Insolvent
- A document shared by Sam Bankman-Fried’s X account claims FTX was never insolvent, despite a jury finding of fraud in 2023.
- The document states that FTX had $25 billion in assets and $16 billion in equity value against $13 billion in liabilities when it collapsed.
- It argues that if not for asset sales by lawyers, FTX and Alameda would have been worth $136 billion today.
- FTX’s token, FTT, is claimed to be valued at nearly $22 billion if the exchange had survived.
The document shared on X suggests that external counsel actions led to the bankruptcy filing of FTX, not insolvency or fraud as previously determined by a jury. It highlights significant potential value from investments like Anthropic and Robinhood if assets were retained.
Bankman-Fried’s defense emphasizes that there were sufficient funds to cover liabilities at the time of collapse, challenging previous conclusions about legal mismanagement and fraud. Source
