SBF Claims FTX Was Never Insolvent, Says Creditors Paid 120%
The post SBF Claims FTX Was Never Insolvent, Says Creditors Paid 120% appeared on BitcoinEthereumNews.com.
In a surprising twist, Sam Bankman-Fried (SBF) resurfaced on X this week with a detailed report claiming that FTX was never insolvent. The post, shared via his account @SBF_FTX, argues that the exchange always had enough assets to repay all customers in full, and accuses bankruptcy lawyers of “destroying value” through mismanagement. The report marks the most comprehensive rebuttal yet from the former FTX founder since his conviction. And it reignites a difficult question: was the collapse of FTX a true insolvency, or a liquidity crisis that spiraled out of control? [SBF says:] This is where the money went. https://t.co/HVRwEw5Z1k https://t.co/5DrA13L5YE pic.twitter.com/O6q77DvmTn — SBF (@SBF_FTX) October 31, 2025 SBF Says FTX Had Enough to Cover All Claims According to the report, FTX’s collapse was not caused by missing funds. Instead, SBF argues that the exchange held more than enough assets to cover the $8 billion in customer liabilities at the time of bankruptcy. He claims that 98% of creditors have already been repaid 120%, with total recoveries expected between 119% and 143% of their original claims. “FTX was never insolvent,” the report states. “The money never left. The $8 billion owed was always there, mismanaged, maybe, but not missing.” The filing also claims that even after covering all customer repayments and $1 billion in legal fees, the FTX bankruptcy estate still holds $8 billion. SBF: FTX was never insolvent. The $8 billion in customer assets owed when FTX filed for bankruptcy protection never left the platform, and all customers will receive 119% to 143% repayment, with about 98% of creditors already paid 120%. After covering $8 billion in claims and $1… — Wu Blockchain (@WuBlockchain) October 31, 2025 $136 Billion in Assets, “Destroyed by Mismanagement” The 38-page document lays out a staggering asset list that SBF says was misused or…
Filed under: News - @ October 31, 2025 10:27 pm