A social media account as soon as linked to Sam Bankman-Fried, the imprisoned founding father of FTX, posted a brand new doc on X late Thursday.
The 14-page file argues that the crypto change was by no means genuinely bancrupt. It additional asserts that the collapse resulted from mismanagement amid a liquidity disaster, reasonably than from fraud.
The publish rekindles controversy surrounding FTX’s downfall. It additionally reiterates a number of claims Bankman-Fried made throughout his trial and in a jailhouse interview earlier this yr.
Doc Denies Fraud, Blames Authorized Advisors for Collapse
In response to the doc, FTX confronted solely a short-term liquidity disaster in 2022 that might have been resolved inside weeks. It claims the corporate’s exterior attorneys seized management and pushed FTX into chapter 11 unnecessarily.
The authors insist the change “was by no means bankrupt,” difficult the findings of the 2023 Manhattan jury that convicted Bankman-Fried of defrauding traders and misusing $10 billion in buyer funds.
Claims of a Wholesome Steadiness Sheet Earlier than Chapter
The doc outlines an image of monetary stability forward of FTX’s collapse. It alleges the corporate held $25 billion in property and $16 billion in fairness worth in opposition to $13 billion in liabilities.
It additional argues that if FTX and its buying and selling affiliate Alameda Analysis had continued working, their mixed holdings may have been price $136 billion at the moment.
[SBF says:]
That is the place the cash went. https://t.co/HVRwEw5Z1k https://t.co/5DrA13L5YE pic.twitter.com/O6q77DvmTn
— SBF (@SBF_FTX) October 31, 2025
Record of Alleged Excessive-Worth Investments
Among the many property talked about are main stakes within the synthetic intelligence agency Anthropic, valued at $14.3 billion. The portfolio additionally consists of the buying and selling app Robinhood, which is price an estimated $7.6 billion. Furthermore, the doc cites investments in fintech firm Ripple and Bitcoin miner Genesis Digital Belongings.
Final month, the FTX Restoration Belief sued Genesis Digital Belongings to recuperate $1.15 billion that it claims was misappropriated below Bankman-Fried’s route.
Disputed Valuation of FTT Token
The doc additionally argues that FTX’s native FTT token could be price almost $22 billion if the businesses had survived. Nevertheless, prosecutors at Bankman-Fried’s trial contended that FTT was used to inflate Alameda Analysis’s stability sheet and conceal large monetary gaps.
Political Rumors and Authorized Aftermath
Conservative activist Laura Loomer just lately claimed there’s a marketing campaign to induce U.S. President Donald Trump to pardon Bankman-Fried.
The declare follows experiences that Trump pardoned Binance founder Changpeng Zhao after the change was discovered to have violated anti-money laundering legal guidelines.
Bankman-Fried is presently serving a 25-year jail sentence handed down in 2024 by U.S. District Choose Lewis Kaplan. Throughout sentencing, Kaplan acknowledged that “a thief who bets stolen cash efficiently nonetheless doesn’t deserve leniency.”
The reemergence of Bankman-Fried’s previous account and its claims have reignited debate over FTX’s collapse and the accuracy of its founder’s protection.
Whereas the brand new doc seeks to recast the story, the court docket’s findings are simple. They affirm that the FTX collapse resulted from deception, not a short lived liquidity shortfall.
DisClamier: This content material is informational and shouldn’t be thought of monetary recommendation. The views expressed on this article might embody the writer’s private opinions and don’t mirror The Crypto Primary opinion. Readers are inspired to do thorough analysis earlier than making any funding choices. The Crypto Primary isn’t answerable for any monetary losses.
