SBF Team Claims FTX Was Never Insolvent as Community Rejects “Misinformation”

Sam Bankman-Fried’s (SBF) team has reignited controversy by asserting that crypto exchange FTX “was never bankrupt,” claiming the exchange held an estimated $136 billion in petition-date assets. The team insists that the collapse in 2022 was not due to insolvency but a temporary liquidity crunch caused by a sudden cash shortage.

According to an October 31 post on X, the SBF team revealed documents claiming that $8 billion in customer assets never actually left FTX when its lawyers filed for bankruptcy. They said approximately 98% of creditors have already received 120% repayment and that all customers are expected to be repaid between 119% and 143%. After settling $8 billion in claims and $1 billion in legal fees, the team claims the estate still retains around $8 billion.

FTX’s petition-date holdings reportedly include $14.3 billion in Anthropic equity, $7.6 billion in Robinhood (HOOD) stock, $1.2 billion in Genesis Digital Assets, and $600 million in SpaceX via K5 Global. The crypto portfolio includes 58 million SOL ($12.4B), 890 million SUI ($2.9B), 205,000 BTC ($2.3B), 225.4 million XRP ($600M), 112,600 ETH ($500M), plus $1.7B in cash and $345M in stablecoins.

However, the crypto community remains skeptical. On-chain investigator ZachXBT accused SBF of spreading misinformation, noting that creditor repayments were based on crypto prices from November 2022, not today’s significantly higher valuations. He added that SBF “has learned nothing” from his time in prison.

Many in the community continue to demand that SBF remain jailed, opposing speculation about a potential pardon from former President Donald Trump. Meanwhile, FTX Token (FTT) surged over 3% to $0.83, with trading volume rising 33% in 24 hours amid renewed discussion of the case.