A post from the Sam Bankman-Fried (SBF)
summation
- Sam Bankman-Fried’s X account posted a 15-page document titled “FTX: Where did the money go?”
- The documents claim FTX faced a liquidity crisis, not insolvency, when it filed for bankruptcy in November 2022.
- Even after paying off creditors and legal fees, the estate is said to currently hold $8 billion, highlighting its stake in the company and its cryptocurrency holdings.
- The FTT token briefly surged to $0.84 after the post before cooling off.
A controversial new document posted via Sam Bankman-Fried’s The post, written by a friend who runs the account on October 31, is linked to a 15-page report titled “FTX: Where Did the Money Go?” This argues that FTX will always have sufficient assets to repay customers, even at the time of its Chapter 11 filing in November 2022.
The document challenges the verdict of a Manhattan jury that found Bankman-Fried guilty in 2023 of facilitating a multibillion-dollar fraud. They claim the crisis is purely a liquidity issue and accuse FTX’s outside lawyers of forcing an early bankruptcy. “FTX has never gone bankrupt, even when its lawyers faced bankruptcy,” the report said, asserting that the company had sufficient assets from the start to fully repay its clients “in full, in kind.”
Among the assets highlighted were significant stakes in companies such as Anthropic ($14.3 billion), Robinhood ($7.6 billion), Ripple, SpaceX, and Genesis Digital Assets. The document also highlighted holdings of major cryptocurrencies: 58 million SOL, 205,000 BTC, and over $1.7 billion in cash and stablecoins. The report estimates that FTX’s portfolio would now be worth $136 billion if left intact.
More than 7 million customers had deposited about $20 billion, and while it owed $8 billion at the time of filing, subsequent financial disclosures showed that 98% of creditors have now received 120% of their claims. The document also claims the estate still has $8 billion more after paying off $8 billion in debt and $1 billion in legal fees.
The latest news echoes Bankman-Fried’s past claims that FTX had enough to reimburse all customers. He criticized legal advisers for seizing control and liquidating high-value investments instead of managing the liquidity crisis internally.
Sam Bankman-Fried (SBF) faces criticism over rising FTT prices
SBF’s post in particular sparked a brief price reaction. The FTX token surged to an intraday high of $0.84 before cooling off. The post also sparked speculation across the cryptocurrency community.
Zach He also accused Bankman-Fried of continuing to spread misinformation.
One user expressed outrage at the lack of compensation in regions such as mainland China, while another criticized SBF for signing bankruptcy documents. Adding to the controversy, there are rumors of a well-funded effort to secure a presidential pardon for Bankman-Fried. These reports were further strengthened after President Donald Trump recently pardoned Bankman-Fried’s former rival and Binance founder Changpeng Zhao.
With SBF’s sentencing scheduled for November 4, the cryptocurrency community is closely watching these new allegations and rumored political maneuvering to see whether they will impact his future. Today, the FTX Series continues to raise deeper questions about corporate governance, regulatory enforcement, and accountability in the cryptocurrency industry.