**FTX Was Never Insolvent, Claims Account Linked to Sam Bankman-Fried**
An account associated with Sam Bankman-Fried, the founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, has recently claimed that the exchange was never insolvent. This assertion echoes arguments made during Bankman-Fried’s high-profile trial. According to the claim, FTX’s estate still retains $8 billion, three years after the dramatic collapse of the exchange.
### FTX’s Solvency Under Question
The account shared a 14-page document, reportedly authored by Bankman-Fried and his team, which argues that FTX did not go bankrupt due to fraudulent schemes or misappropriation of $10 billion in customer funds. Instead, the document suggests that FTX faced a liquidity crisis that was on track to be resolved by the end of that month. The turnaround, however, was allegedly disrupted when FTX’s external counsel took control of the platform.
The document asserts, “FTX was never bankrupt, even when its lawyers placed it into bankruptcy.” This position aligns with sentiments expressed by Bankman-Fried in a recent interview with conservative political commentator Tucker Carlson, where he claimed there was enough money to pay every creditor at the time of the exchange’s collapse.
### Overview of FTX’s Assets
According to the document, FTX held approximately $25 billion in assets, with an equity value of $16 billion against liabilities of $13 billion. It further contends that if lawyers had not liquidated key investments, FTX and its sister firm, Alameda Research, would possess holdings valued at around $136 billion.
Notable assets mentioned include:
– A $14.3 billion stake in artificial intelligence startup **Anthropic**
– A $7.6 billion investment in **Robinhood**
– Investments in **Ripple** and the Bitcoin mining company **Genesis Digital Assets**
It is important to note that the FTX Recovery Trust has filed a lawsuit against Genesis Digital Assets, seeking to recover $1.15 billion that it claims was misappropriated by Bankman-Fried.
Additionally, the document claims that if FTX and Alameda Research were still operational, the FTT token would be worth nearly $22 billion. During Bankman-Fried’s trial, prosecutors argued that the FTT token was used to support Alameda Research financially.
### Speculation Over a Potential Pardon
In the political arena, conservative activist Laura Loomer has alleged a “massive and well-funded” campaign to persuade former President Donald Trump to pardon Bankman-Fried. Loomer stated on X (formerly Twitter):
> “There is a massive and well-funded lobby effort to get this criminal pardoned. He’s going to pretend like he was a victim of Joe Biden and the Democrats after he funded all of the left’s campaigns. Don’t fall for it.”
Speculation about a possible pardon increased after former Binance founder Changpeng Zhao received a pardon from President Trump.
However, during Bankman-Fried’s sentencing, Judge Lewis Kaplan remarked:
> “A thief who takes his loot to Las Vegas and successfully bets the stolen money is not entitled to a discount on his sentence.”
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**Disclaimer:** This article is provided for informational purposes only and is not intended as legal, tax, investment, financial, or other advice.
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