SBF Makes Serious Claims Regarding FTX's Bankruptcy! FTX Reveals Which Altcoins It Holds!

FTX, the cryptocurrency exchange that suddenly went bankrupt in November 2022 and caused Bitcoin to fall to $15,000, was on the agenda again today.

FTX founder and former CEO Sam Bankman-Fried (SBF), who is currently in prison for fraud, made important statements about FTX and its bankruptcy.

In his post from his X account, SBF claimed that FTX had never actually gone bankrupt and that the money deposited by customers had never left the platform.

SBF argued that $8 billion in customer funds from FTX, which is in bankruptcy proceedings, “never disappeared” and that most of the losses have already been recovered.

The answer is simple. The money was never lost. Currently, 98% of approved FTX customer claims have been fully refunded, plus interest paid.

SBF stated that the liquidity crisis was about to be resolved, but an outside legal team intervened and initiated bankruptcy proceedings. At this point, SBF maintained that even after initiating bankruptcy proceedings, FTX was not actually insolvent and had sufficient resources to pay all its creditors.

“Even when FTX was taken over by the bankruptcy legal team, there was enough money to return assets in kind to all customers. Even now, if it weren't for the legal team's poor asset management, a full refund would be possible.”

According to data shared by SBF, the total value of FTX assets was $14.6 billion in 2022. However, today the value of these assets has reached $136 billion.

According to the data, the exchange holds $14.3 billion worth of Anthropic and $7.6 billion worth of Robinhood stock. In terms of cryptocurrencies, it also holds approximately $12.4 billion worth of Solana (SOL), $2.3 billion worth of Bitcoin (BTC), and $2.9 billion worth of Sui (SUI). It also holds smaller amounts of Ethereum, XRP, and FTT.

*This is not investment advice.