Overview
- An account once used by Sam Bankman-Fried linked to a document asserting FTX faced a resolvable liquidity crunch rather than insolvency and that outside counsel pushed the exchange into Chapter 11.
- The document cites figures of roughly $25 billion in assets and $16 billion in purported equity against $13 billion in liabilities at the time of the 2022 collapse.
- It further contends that, absent post-collapse asset sales, FTX and Alameda would hold about $136 billion today, including an estimated $14.3 billion stake in Anthropic and $7.6 billion in Robinhood, and that FTT would be worth nearly $22 billion.
- The public claims conflict with the legal record: a 2023 Manhattan jury found Bankman-Fried misappropriated customer funds and he received a 25-year prison sentence in 2024, with prosecutors saying FTT propped up Alameda.
- Recovery efforts continue through the FTX Recovery Trust, which last month sued Genesis to claw back $1.15 billion, while FTT ticked up about 2% and saw higher trading volumes following the post.