‘FTX Was Fine Until They Took It’: SBF’s Explosive Letter Blames Lawyers, But Would Trump Really Pardon Him?
Convicted FTX founder Sam Bankman-Fried said in a new 15-page letter that FTX “was never insolvent” and blamed lawyers for destroying what he called a $136 billion enterprise.
SBF Says FTX Could Have Repaid Users
In the document dated Sept. 30, Bankman-Fried claimed FTX and Alameda Research entered the November 2022 liquidity crunch with $25 billion in assets and $16 billion in equity, enough to meet the $8 billion in withdrawal requests that triggered the collapse.
He wrote that the issue was a “liquidity crisis,” not insolvency, and that funds could have been restored within weeks “until external counsel seized control.”
The letter accuses FTX’s bankruptcy team of misrepresenting the company’s finances and filing for Chapter 11 protection despite having sufficient assets to pay creditors.
Bankman-Fried alleged that lawyers “decimated …
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