SBF Challenges FTX Bankruptcy, Claims The Exchange Was Always Solvent

• SBF said that FTX was never bankrupt and that he never filed for it.
• He states that the lawyers seized the company and quickly filed for bogus bankruptcy.
• Court records and experts have shown that there was serious financial mismanagement.

Sam Bankman-Fried, the former CEO of the defunct FTX exchange, has repeated a controversial claim that the exchange wasn’t actually insolvent when it declared bankruptcy in November 2022. In a post on X, he said, “FTX was never bankrupt. I never filed for it.” 

He suggests that lawyers pushed for the filing to serve their own interests, seizing the company and quickly filing what he calls a “bogus bankruptcy.” Earlier, he said FTX’s US branch was solvent when its wallets were reviewed, and it shouldn’t have been part of the bankruptcy.

Also, Bankman-Fried blamed the Biden administration, saying his prosecution and the …

Read The Full Article SBF Challenges FTX Bankruptcy, Claims The Exchange Was Always Solvent On Coin Edition.